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Article Date:
May 2007


Word Count:
162

 

 

Day Trading Produces Capital Losses


In addition to his medical practice, Shahrooz S. Jamie, a licensed physician in Clay County, West Virginia, engaged in business as a day trader of securities, buying and selling on his own account the same securities on the same day or within a few days. From losses sustained in his trading activity, Jamie claimed net operating loss (NOL) carryovers in the amounts of $545,907 in 2001 and $2,027,136 in 2002. He used the claimed NOL carryovers to offset the net ... Log in to view full article.

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