If you trade securities for a living, you are an active stock trader. The IRS considers you an investor for tax purposes. However, the IRS allows you to file taxes as though you are running a.
If you held your stocks for longer than one year, you’ll benefit from the lower capital gains tax rate, rather than your ordinary income tax. Step 1 Gather 1099s.
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However, you must file your tax return to be able to do so. The income tax department has specified that F&O trades shall be considered as a non-speculative business. Its losses can be carried.
31.12.2008 · If you trade actively (buy and sell within a year) those are short term capital gains. Any short term losses in the same year can be used to offset the gains.