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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (93)	2/19/1998 8:51:00 PM
From: Colin Cody	Respond to of 1383

Dan, You have the IRS pub, which goes into as much detail and more than I'd ever be able to hope to! Just follow their rules and watch the 61 day window surrounding each sale. . TRADERS may or may not be subject to the wash sale rule. I have not thoroughly researched that end. I am suspicious that Traders are exempt from the wash-sale rule - but I have no citation to verify this. . Many DAY traders move to whatever is hot, and therefore they are not rolling in and out of the same stock anyway. But for someone who DID keep flipping a stock right trough December he might need to know for sure what the wash-sale rule is for his business. . Colin