Capital gains, cost basis, wash sales, Section 1256, trader tax status, the 475(f) election, options, forex, crypto and prop payouts, then estimated taxes, harvesting, records and audit triggers. Worked numbers, illustrative rates, and a UK, Canada, Australia and EU overview.
Module 1: The basics
Capital gains versus ordinary income, short versus long term, cost basis and lot methods, realized versus unrealized, and how the 1099-B reports it all.
Module 2: Rules that bite active traders
The wash sale rule across accounts and options, the year-end wash trap, Section 1256 contracts and the 60/40 split, mark-to-market and the straddle rules.
Module 3: Trader tax status and elections
What trader versus investor means to the IRS, the vague tests, what the Section 475(f) election gives and takes, its deadlines, and an overview of entity structures.
Module 4: Asset-specific notes
Options assignment and exercise, forex under Section 988 versus 1256, crypto as property, prop firm payouts as 1099 income, and dividends and qualified status.
Module 5: Planning and process
Estimated quarterly taxes, tax-loss harvesting without wash sales, record-keeping systems, software versus a trader CPA, international notes, and common audit triggers.
Educational content, not financial advice.