Travis,

So are you saying that if , for example, I start a new issue service and drive to Las Vegas every week from Northern California and buy 10 chips each week and sell 1 chip every week for a profit of $1.00, that I have to report that $1.00 even though between the nine chips I wasn't able to sell plus all my gas money, I've lost my shirt? I was under the impression that if the total was a loss, you couldn't deduct it from other income, but you weren't required to pay tax on a money losing adventure.