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Technology Stocks : Dell Technologies Inc.
DELL 124.54+4.3%10:50 AM EST
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To: freeus who wrote (129392)5/27/1999 3:20:00 PM
From: David Harker  Read Replies (1) of 176387
 
>But I am very interested in your comment that I dont have to
>be concerned with wash sales...is that true, just because I'm
>an active trader?Fidelity considers me an active trader...does
>the IRS have some standard?

IRS lets you "elect trader status" and you end up taxed on
your net gain/loss for the year, no wash sale rules, etc.

This is VERY HARD to get ("Trader status") - you must meet
many criteria. There was a recent free series of articles
on this at thestreet.com, and probably plenty of other sources
of info on the Web. From what I've read, (from memory) you
need to gain your primary income from stock trading - no other
job/earned income. That's a big hurdle for most of us, and
it does not end there - (the list of criteria).

All, please correct me if wrong, this is from memory...
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