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URL:  http://boards.fool.com/irs-quotqualifiedquot-stock-trader-question-14032748.aspx

Subject:  IRS "Qualified" Stock Trader question Date:  1/4/2001  7:12 PM
Author:  fbarron Number:  43933 of 121572

http://www.fool.com/taxes/2000/taxes000609.htm
http://www.fool.com/taxes/2000/taxes000616.htm

After reading the two articles above, a question came to mind. Say you manage to become a trader in the eyes of the IRS, if you have tax losses previously filed and yet unclaimed, can you take all the losses during the year you start reporting as a trader? I realize you can take up to $3000 per year anyway, but would this new designation enable you to take more than that to "clear the books" on those prior losses? Any help would be appreciated.

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