How should I report income made from day trading?

Income made from day trading is fully taxable and should be reported as business income rather than capital gains.

While there’s no legal definition of “day trading” for income tax purposes, certain factors can help determine whether your trading activity is considered business income. These factors include:

• Frequent buying and selling of securities, usually within the same day
• The activity is part of "business as usual"
• Time spent studying and investigating the markets