Trader or Investor, Sometimes It Feels Like a Coin Toss

Kay v. Comm'r, T.C. Memo 2011-159 (T.C. 2011) is yet another case that tackles the facts and circumstances query of a trader v. investor... ...[i]f a person buys and sells the same securities within the taxable year, in either case the income will be taxed at ordinary rates. However, losses and...