Replies to post #5938 on Cel Sci Corporation (CVM)

[Foxwoods Man]

So what happens if you are a trader and buy and sell all day long on a few stocks??

You are telling me that the losses do not count but the gains do??

It is a basic rule that has been around forever....I hope if you are a trader you are/were aware of the IRS consequences of ANY trade

From the SEC.GOV website:

Wash Sales
Under Internal Revenue Service rules, you cannot deduct losses from sales or trades of stock or securities in a wash sale. A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:

Buy substantially identical stock or securities,

Acquire substantially identical stock or securities in a fully taxable trade, or

Acquire a contract or option to buy substantially identical stock or securities.