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

To: Robert A. Green, CPA who wrote (346)	6/17/1998 12:05:00 PM
From: Len	Respond to of 1383

A right to the jaw!!! While the RIA source is not binding on the IRS, it seems like a fair interpretation. However, how do you make the leap from the "dealer in securities" to your own statement that it applies to "traders in securities?" Is it your opinion that because traders have an option to apply the mark to market rules that dealers use, then all such attributes that dealers have are automatically transferred to traders? Thanks, just trying to understand...

To: Robert A. Green, CPA who wrote (346)	6/17/1998 12:08:00 PM
From: Gorak Shep	Respond to of 1383

As you cite, RIA 22,719 states: "The wash sale rule doesn't apply if the taxpayer is a dealer in stocks or securities" It does NOT say is a dealer or trader

To: Robert A. Green, CPA who wrote (346)	6/17/1998 12:14:00 PM
From: David R. Parker	Respond to of 1383

Trader vs dealer? Is there perhaps a difference between a dealer "The wash sale rule doesn't apply if the taxpayer is a dealer in stocks or securities..." and a trader? Are these two terms used to describe the same thing? Regards, David

To: Robert A. Green, CPA who wrote (346)	6/17/1998 12:38:00 PM
From: Colin Cody	Read Replies (2) \| Respond to of 1383

Per RIA - 22,719 "Exemption of traders and dealers in securities from wash sale rule. The wash sale rule doesn't apply if the taxpayer is a dealer in stocks or securities and the loss is sustained in a transaction made in the ordinary course of the taxpayer's business of dealing in stocks and securities." Code Sec. 1091(a). The exemption applies to Traders in Securities. . No it does not. To suggest that it does is ludicrous. . Posting some fragment from a professional level research source does not make it so. . Colin