trader


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trader

in U. S. income tax law, a person who deals in property as a business, making several purchases and sales within a year as distinguished from a few sales of assets held for investment. Thus a trader will lose the right to defer capital gains by "exchanging" for another property. The exact details require consultation with a C.P.A. or attorney.

See: broker, dealer, merchant, speculator, supplier, vendor

TRADER. One who makes it his business to buy merchandise or goods and chattels, and to sell the same for the purpose of making a profit. The quantum of dealing is immaterial, when an intention to deal generally exists. 3 Stark. 56; 2 C. & P. 135; 1 T. R. 572.
     2. Questions as to who is a trader most frequently arise under the bankrupt laws, and the most difficult among them are those cases where the party follows a business which is not that of buying and selling principally, but in which he is occasionally engaged in purchases and sales.
     3. To show who is a trader will be best illustrated by a few examples: A farmer who in addition to his usual business, occasionally buys a horse not calculated for his usual occupation, and sells him again to make a profit, and who in the course of two years had so bought and sold five or six horses, two of which had been sold after be bad bought them for the sake of a guinea profit, was held to be a trader. 1 T. R. 537, n.; 1 Price, 20. Another firmer who bought a large quantity of potatoes, not to be used on his farm, but merely to sell again for a profit, was also declared to be a trader. 1 Str. 513. See 7 Taunt. 409; 2 N. R. 78; 11 East, 274. A butcher who kills only such cattle as be has reared himself is not a trader, but if he buy them and kill and sell them with a view to profit, he is a trader. 4 Burr. 21, 47. See 2 Rose, 38; 3 Camp. 233 Cooke, B. L. 48, 73; 2 Wils. 169; 1 Atk. 128; Cowp.745. A brickmaker who follows the business, for the purpose of enjoying the profits of his real estate merely, is not a trader; but when he buys the earth by the load or otherwise, and manufactures it into bricks, and sells them with a view to profit, he is a trader. Cook, B. L. 52, 63; 7 East, 442; 3 C. & P. 500; Mood. & M. 263 2 Rose, 422; 2 Glyn & J. 183; 1 Bro. C. C. 173. For further examples, the reader is referred to 4 M. & R. 486; 9 B. & C. 577; 1 T. R. 34; 1 Rose, 316; 2 Taunt. 178; 2 Marsh. 236; 3 M. & Scott. 761; 10 Bing. 292 Peake, 76; 1 Vent. 270; 3 Brod. & B. 2 6 Moore, 56.

References in periodicals archive ?
The position trader is the long-term trader of the market that can hold onto trades for days, weeks, months, and even years sometimes.
Krishan Singh General Secretary Cross LoC Trader Association said that in the last traders meet, all defaulter Indian traders, excluding the two were present.
The first rum drink ever made at Trader Vic's, and the hands-down favorite of the Trader's daughter Bonnie.
Each issue's cover story will feature a current market, geo-poltical situation, or economic issue of interest to traders and its expected impact on the markets.
And on the day the space shuttle Challenger exploded in 1986, Wall Street traders correctly guessed within minutes of first hearing the news which of the four main suppliers had provided the faulty part, whereas a blue-ribbon panel of experts took months to come to the same conclusion.
eSignal, a division of Interactive Data Corporation (NYSE:IDC) and a leading provider of streaming, real-time financial market data, news, analytics and decision support tools to professional and individual traders, has announced the immediate availability of eSignal 7.
The advantage the active trader has in electing MTM treatment under Sec.
There are significant tax advantages to being classified as a trader.
These decades also mark the height of African men's anxieties over the sexual activities and social mobility of women traders.
But there are huge differences between a professional day trader and the average person who updates his or her stock portfolio now and then through an account with, say, E*Trade or Ameritrade.
If a trader thinks Brazil's interest rates are going to go up, he (they're almost all men) buys the real.
We've been waiting and waiting, driving by every day, looking,'' Ferguson said, pointing out some of her Trader Joe's favorites in her well- stocked shopping cart, like fresh apple cider and ``very cheap'' Scottish shortbread.