Re: [CANSLIM] Deduction Subject to 2% Limit

From: "Pritish Shah" <pshah@lason.com>
Subject: Re: [CANSLIM] Deduction Subject to 2% Limit
Date: Wed, 23 Jul 2003 12:06:39 -0400

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I do use Schedule C for CANSLIM. My major source of income is not the wall =
street so I do not qualify as a trader. I do not think I ever want to be a =
trader for a living.

For tax purposes, quicken is a good product to have. At the end of the =
year, it automatically calculates the Schedule C for you. This data you =
can import in Turbo Tax or Tax Cut.

Pritish

>>> Hong Hsu <honghsu@bellatlantic.net> 07/23/03 11:44AM >>>

Does anyone here uses Schedule C to tax return 1040 while using CANSLIM=20
approach?

I am confused by Special Rules for Traders in Securities. On page 68 of=20
Publication 550, it said: "You must seek to profit from daily market=20
movements in the prices of securities and not from dividends, interest,=20
or capital appreciation."

What does exactly daily market movements refer to in here? What is=20
capital appreciation refers to here exactly? If stocks average holding=20
period is 12 days. Does it qualify for profit of daily market movements=20
or capital appreciation?

Your thought? Thanks in advanced,
- -Hong





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