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Suppose I have an IRA and I daytrade in it excessively (say 100 trades or more per day). I read somewhere that if the IRA is used as an active trading vehicle, then you are not adhering to the spirit of an IRA and the IRS can declare that it is not an IRA (i.e., the trades are taxable). Anyone heard of this? Or was I misinformed?


PS - Wash sales and IRAs? I looked at previous discussions about this and one of the last ones I read said that if you sold a stock for a loss in a taxable account and bought it back in an IRA within 30 days, that there is no wash sale. Can this advice be trusted or is this topic still undecided?

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