Tips for Traders Preparing 2018 Tax Returns

If you traded actively in 2018, be sure to join CPAs Robert A. Green, Darren L. Neuschwander and Adam W. Manning from Green, Neuschwander & Manning, LLC. They’ll be reviewing several new and revised 2018 tax forms, and will show you how traders eligible for trader tax status (TTS) can maximize their business, home office and start-up expenses using critical tax-reporting strategies. Don’t solely rely on broker 1099-Bs: you may be able to switch to lower 60/40 capital gains rates in Section 1256, use Section 475 ordinary loss treatment if elected on time and report wash sale losses differently. They’ll also cover how to make vital 2019 tax elections on time, common tax return errors that can lead to an IRS or state exam, and tips for filing extensions and paying taxes.