Article Date:
September 2008

Word Count:



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 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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