Home Office Deduction
I'm a full time day trader. All my trading is done at home.
1.
Can I take a home office deduction?
2.
Can I deduct my internet bill? It is used for both trading and personal use.
I'm a full time day trader. All my trading is done at home.
1.
Can I take a home office deduction?
2.
Can I deduct my internet bill? It is used for both trading and personal use.
Yes, if your trading activities qualify you as a day trader, you can take home office deduction and the percentage of internet bill that is used for your day trading business.
All of the following requirements must be satisfied in order for you to be considered a day trader.
You will file Schedule C to claim the expenses incurred in the trading activities as a day trader.
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