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Ms. Client lost big in the stock market during 2019. Now, at tax time, she insists that she is (or was during 2019) a day

Ms. Client lost big in the stock market during 2019. Now, at tax time, she insists that she is (or was during 2019) a day trader and therefore can treat her stock market net loss as a Schedule C ordinary loss rather than as a basically worthless net capital loss. In anticipation of a meeting with Ms. Client, prepare a due diligence checklist / questionnaire (or just a “note to self”) to guide the discussion and to help you get to an independent professional judgment regarding Ms. Client’s 2019 status as either a trader or an investor.


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