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Trader Taxation

Claiming Trader Status In Tampa, FL

Claiming trader status on your returns greatly affects the amount and kinds of planning necessary for your taxes. At Guardian Accounting Group, our Tampa tax professionals have experience providing day and swing traders with effective long term strategies to ethically and effectively limit their liability through unused or unknown deductions.

Obtaining Trader Status

Trader status is unique in that it requires active involvement on the part of the individual, and qualifies as a business performing regular transactions. As explained by the IRS, those looking to qualify as a trader must:

  • Seek to profit from daily market movements
  • Maintain regular and substantial activity
  • Do not profit from dividends, interest, or capital appreciation
  • Keep records to distinguish investment securities and trading securities

If you are a trader that also relies on income through long term investments, these securities will need to be held and documented separately from those that are used for trading. At Guardian Accounting Group, we provide clients with assistance in determining their status as traders and help in filing the necessary paperwork to claim the deductions and elections available to traders.

If you are unsure whether you qualify for trader status, take the evaluation on our site and email it to

Trader Planning

Traders are subject to more deductions than regular investors. With our experience in trader taxation, Guardian Accounting Group is able to guide clients in claiming deductions that are otherwise unknown. Our Tampa professionals help you to claim:

  • Newsletters and Newspapers
  • Trading Books and Publications
  • Communication Devices and Software
  • Internet Services
  • Margin Interest
  • Tax Preparation and Planning advice

Our support is year-round, and our tax trader professional is available for consultation as you make purchases and other decisions that could affect your tax status.

Mark-to-market Election

One of the major advantages available to traders is the mark-to-market election. This accounting method allows traders to avoid the wash-sale rule, changing capital losses into ordinary losses, and lifting the limit on what can be used to offset your tax liability. By helping clients select this election, we assist traders in offsetting a greater portion of their gains and reducing their liability. We assist in filing the appropriate forms to make the election, and help traders to understand whether mark-to-market accounting would benefit your bottom line.

Contact Guardian Accounting Group Today

If you are a day or swing trader looking for a tax professional that understands the elections and deductions unique to your tax situation, contact Guardian Accounting Group today. We provide quality trader tax services to individuals throughout Tampa, Carrollwood, Hyde Park, and the neighboring communities.