Join Robert Green to learn the golden rules for eligibility for TTS. You can claim TTS for all or part of 2021 and 2020. TTS traders can deduct business, startup, organization, and home office expenses, whereas investors cannot.
TTS traders should consider a Section 475 MTM election for 2022; it's too late for 2021. Section 475 trades are exempt from wash sale loss adjustments and the capital loss limitation, and they are eligible for the 20% qualified business income (QBI) deduction. QBI excludes capital gains.
Tune in and discover how TTS traders use an S-Corp to deduct health insurance premiums and high-deductible retirement plan contributions. Consider an entity for 2022; it's getting too late for 2021.
There are different metals and mining instruments to trade, and tax treatment varies. They include equities, equity options, and ETFs in mining companies taxed as securities. Precious metals, bullion and coins, and physically backed precious metal ETFs, grantor trusts treated as collectibles. Regulated futures contracts for precious and industrial metals are Section 1256 contracts.
Join Robert A. Green, CPA, of GreenTraderTax.com, for this session. For background information, see Mr. Green's blog post,Tax Treatment for Precious Metals.
Green's 2021 Trader Tax Guide