Zeev's Turnips Patch-No Politics (ZEEV)

[MKT_entropy]

Rob, how does the wash rule figure into those ST/LT tax calculations? Isn't it an important fact that must be factored in by daytraders? For example, if I buy and sell two different positions in a day trade, am I allowed to offset my gain in one with a loss in the other?

For years, I was just plugging in my transactions into a TurboTax table and relied on what it came up with, but this year I have so many daytrading transactions I'd go crazy trying to do it by hand...

Of course, trading in a 401(k) or IRA account removes this problem, but then isn't shorting forbidden in a tax-preferred account?

M_e