Re: [CANSLIM] Deduction Subject to 2% Limit

From: "Charles & Lois Layne" <lelayne@earthlink.net>
Subject: Re: [CANSLIM] Deduction Subject to 2% Limit
Date: Wed, 23 Jul 2003 21:50:33 -0400

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- ----- Original Message -----
>
> Thank you very much.  As you said the IRS believe a trader MUST have
> substantially income from his /her trading income in comparison of other
> incomes.  Thus I think there will be no hard number for average holding
> period.  The average holding period is secondary criteria.   If there is
> a hard number, then the Warren Buffett will never be a trader as he
> holds positions for years.
>

And that's true... Mr. Buffet is not a trader... or at least a trader in
securities as the IRS puts it.  He may be more of a mutual fund... I have no
idea what their tax treatments are.


Chuck Layne




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