Bill wrote:
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Correct, Bill. I do it this way in these cases on every day
that ends in a "y".

ChEAr$,
Harlan Lunsford, EA n LA

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ddpalmer[at]hotmail.com (D.D.=A0Palmer) posted:

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No problem using Schedule D. The important issue is covered
by your "meticulous records." That will always protect you.

As others have noted you have an option on reporting the
detail: You can attach a printout in the format of Schedule
D-1. And I believe someone stated that IRS will accept a
summary statement, which includes the explanation that you
were an active day-trader, and complete print-outs of all
trades are available in support. (If my memory of this is
wrong, I'm sure someone will helpfully point it out.)

Bill

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I recently devised a stock daytrading system where I either
buy or sell a certain DOW stock every day. Most days I sell
about $90,000 worth of stock. Some days it's 2x - 3x that
much. At the end of the year, my Schedule "D" is going to
show millions of dollars in stock sales. I keep meticulous
records of each buy and each sell. If ever audited, I can
prove every trade exactly. All of that being said, am I
setting myself up for unnecessary grief and is there some
way to mitigate this? I do NOT want to turn this into a
"business" and prefer to keep it "investing" on Schedule
"D".

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