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Author: prime13 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121586  
Subject: Re: Daytrading Wash Rule Date: 11/3/2000 2:35 PM
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Can someone please explain me this? If the wash rule applies for 30 days, then does that mean that daytrader can not deduct their loss if they bought within 30 days
of their sell? If so that's true, how could you ever make money for DayTrading? Your losses are not deductible, and your gains are taxed against you.


I was looking up another question about wash sales and I found this column that applies to your question http://www.fool.com/taxes/2000/taxes001006.htm I basically says that you can trade all you want during the year and if you close your position before the end of the year and stay out for the required 30 days after the sale, then you can claim the loss. I hope this helps.

prime13
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