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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Kaye Thomas who wrote (465)8/23/1998 7:31:00 PM
From: terry stromquist  Read Replies (2) of 1383
 
I have been a very active trader this year, often trading in and out
of the same securities. Approx 60% of trades have been profitable
versus 40% as losers. I have trading profits year to date and am confused as to whether or not I will be able to deduct all my losses against my gains or will the 30 day wash rule come into play and eliminate offsetting most of my losses against gains. Does either "Trader Status" or "Mark to Market" totally eliminate the 30 day wash rule? Please help clarify this for me.
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