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Article Date:
September 2008


Word Count:
1076

 

 

No Deduction for One-on-One Investment Training


Carl Jones spent about 6.5 hours a day, five days a week studying and executing stock trades in his day-trader activity. To improve his profits, Mr. Jones attended the five-day, one-on-one personal training from DayTradingCourse.com in Cartersville, Georgia.

 

Mr. Jones spent $6,053 on this course as follows:

 

·

$5,247 for the course,

·

$417 for lodging (five inexpensive nights),

·

$224 for round-trip travel (drove his vehicle),

·

$145 for food (less than $30 a day), and

·

$20 for a course book.

 

The Deadly Concession

 

At trial, Mr. Jones conceded that he was not in the business of day-trading. This concession made Mr. Jones an investor for tax purposes.

 

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