I have a day trader that didn’t use a corporation for his work. what NAICS Code would I use to report his day trading business. Am I correct to classify his income as professional and also put his gains and losses into the cost of sales section of the T2125 in TAxcycle? Kind Regardsi Gerry A.

You are correct to report the activity on his T2125. However, this is not classified as professional activity. Simply, record it as business activity. Correct NCAIS from my experience is 523210. Gains and losses are considered business income (in the same way derivatives are treated for tax purpos…

thank you so much. The taxcycle community has been great place for guidance on tax questions for many years. With the support, best tax software and community of users in Canada, in my opinion

T2125 Day Trader NAICS Code

Tax Topics

Arliss May 21, 2024, 7:30pm 3

I have always used 523990.

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T2125 Day Trader NAICS Code

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