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Financial Planning / Tax Strategies


Subject:  Daytrading Wash Rule Date:  11/3/2000  1:02 AM
Author:  JChiem Number:  41452 of 132974

Hi all,

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.

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