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<<I pulled this from the US Code. I'm not sure whether Day Traders would fit into the "dealers in securities" category, but they would more than likely incurr these losses in the "ordinary course of business. Can anyone clarify this. >>

"Trading" is a technical term. Most of us are investors. There are very few true "traders". I discuss this issue in more detail in my series of articles on "trading" in the Taxes FAQ area. You might want to check it out for additional information.

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