GTC Biotherapeutics (fka GTCB)

[Lewis R Goudy]

Make that "tune of $400K", they wouldn't send you up for
$400 of underpaid tax due. If you are trading willy-nilly
in both taxable and non-taxable accounts and treating the
non-taxable activity as separate but applying the wash rule
in good faith to your taxable activity they probably wouldn't
nail you but they might well assess you (assuming it shook
out to your benefit rather than theirs). But if it looks
like you are apportioning the trades to gin up advantage you
will be needing counsel.