Houston TX
Legendary Market Wizard
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,052 since Dec 2013
Thanks Given: 4,393
Thanks Received: 10,209
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Not a tax professional but I believe the answer to that is yes if your qualify for trader tax status (as its then a business expense) and no/maybe if you don't (as its then an investment expense). I believe (again not a tax professional) the deduction as a investment expense is capped at the amount of other investment (non-capital gains) income you have. Which for futures would be zero, but if you have bonds, or stock dividends it may offset some of that income.
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