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On the Tax Classification of Day Stock Traders as Investors or TradersBuagu MusaziMorgan State University - Department of Accounting and Finance Krishna RanaVirginia State University - Department of Information Systems and Decision Sciences January 7, 2004 American Accounting Association 2004 Mid-Atlantic Region Meeting Paper Abstract: The paper develops an analytical model that can be used to guide courts in the tax classification of day stock traders as investors or traders. Present tax laws do not clearly distinguish between a trader and an investor yet each classification has different tax consequences. Accordingly, the issue has been left to the judicial system to arbitrate between the Internal Revenue Service and taxpayers. The judicial system has developed its classification guidelines. However, some of the judicial classification guidelines are arbitrary and somewhat confusing. The analytical model developed herein can be used to streamline some of the judicial guidelines.
Number of Pages in PDF File: 5 Keywords: Day stock traders, taxation, investors, business JEL Classification: H24, H25, H29, K19, M49 working papers seriesDate posted: February 20, 2004Suggested CitationContact Information
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