I've been a swing trader for a few years and I'm considering switching to mark-to-market tax status - wash sales have been killing me. I think I understand the ramifications pretty well except if anyone knows an answer to the following I'd appreciate it:1) I know that a trade of a like security in a tax advantaged retirement account within 30 days of a losing trade in a taxable account may require that I pay taxes on gains in the tax-advantaged account & possibly interest & penalties. Is this still true if I make the MTM election?2) Do my accumulated short-term capital loss carryovers from previous years disappear when I switch from Schedule D to MTM? If not how do I include them in post-MTM return(s)?Thanks very much in advance if you can help.:-)ShawnPS How do I search this Board to find out if this question has already been asked?
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra