Hi fellow Mustachians!
This is my first post, so I hope I don’t violate any FAQ.
Here’s a hypothetical situation: Let’s say you have two trading accounts: one long-term ETF account where you do very few trades per year and one more active trading account where you do several trades per week including perhaps the odd Future and Option.
From a tax point of view the 2nd account will result in the tax authority to declare you as a ‘professional trader’ (or something like that) which means you pay income tax and AHV even, on whatever the gain is from that account.
My question: does whatever you have gains in the first, long-term account (talking about capital gains here) also fall under the professional trader status, even though you clearly separated the two strategies? Ie is the professional trader status globally applied or per account?
Thanks for any input!