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3 Day-Trading Tax Tricks

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Day trading stocks is a fast-paced, high-adrenaline job with huge potential rewards — and huge potential losses. It can also include some really sweet tax breaks if you qualify as a trader in the eyes of the IRS.

That’s a big “if.” Many people who buy and sell stocks on the side — that is, they have a full-time job that doesn’t involve trading — are considered “investors” by the IRS, rather than “traders.”

Ordinary investors are also eligible for some tax breaks. Most notably, if they hold investments for a year or longer, they’re eligible for long-term capital gains rates, which are lower than regular income tax rates. But investors’ tax breaks pale in comparison to those available to full-fledged day traders.

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