Stock trading OTR

Trading one's own (personal) account, except for extreme circumstances, is not going to meet the definition of a business. It is not "compensated work".

Topic No. 429 Traders in Securities (Information for Form 1040 Filers) | Internal Revenue Service

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Hand. As a trucker you are going to have downtime. Loading unloading waiting at terminals for maintenance etc. What you do during those times is up to you. The only problem is unless you are dedicated you cant depend on these downtimes to happen at a certain time.

 

From your link....
Traders
Special rules apply if you're a trader in securities, in the business of buying and selling securities for your own account. The law considers this to be a business, even though a trader doesn't maintain an inventory and doesn't have customers.

But all of that is irrelevant in my mind. I posted the original as there is no way I see working 2-3 hours a day as personal trading. He might be 100% personal sure, but I see the most likely as he is doing it as a business. And if he is 100% personal, well it's above my pay grade to want to figure it out.

In either case. starting out driving and planning on working a side job is a recipe in disaster. Need to focus on driving until he gets at the very least a few months in....

 

You need to read the ENTIRE Topic, not just cherry pick the part that suits your bias. And, you know nothing about what he trades, how often, nor the size of the trades, all of which are factors to be considered.

The OP said, "Will i be able to have 2-3 hours off free time to work on my portfolio when working OTR?" How do you get the idea that he has a business and must record his time as on-duty out of that? What is he doing; trading, research, what, exactly?

Nor was anyone asking for career advice.

 

Kinda read like he was asking for advice...
And I did read the entire link, and did not find anything specific to trading not being a business other than the long term investments. But like I said this is something I really don't care about. You wanna claim it's personal, well that's your decision.

 

The actual time spent "trading" is only say 45 seconds to make a transaction. Majority of time is spent reading/due diligence/scanning markets. No one is going to log the time spent handling personal finances. I doubt the OP is a professional stock trader as in licensed by the SEC so the only funds he can trade are his own.

 

If that were true, trucking youtubers who monetize their channels would be illegally breaking the law since they are editing, trimming and rendering their videos in their off time.

 

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And if one of them ends up in court I'd bet opposing council tries to show just that.

 

Some people sell stuff on ebay and amazon for profit as well as do trucking. I mean there is a ton of hobby stuff truckers do for extra income and no one has ever gone to jail because of it.