Ms. Client lost big in the stock market during 2019.

Ms. Client lost big in the stock market during 2019. Now, at tax time, she insists that she is (or was during 2019) a day trader and therefore can treat her stock market net loss as a Schedule C ordinary loss rather than as a basically worthless net capital loss. In anticipation of a meeting with Ms. Client, prepare a due diligence checklist / questionnaire (or just a “note to self”) to guide the discussion and to help you get to an independent professional judgment regarding Ms. Client’s 2019 status as either a trader or an investor.