Day Trader and Wash Sale Rules

H

halken

Is it better tax-wise for a Day Trader to register with the IRS as a day trader and thus avoid the Wash Sale rules?
 
Quote from halken:

Is it better tax-wise for a Day Trader to register with the IRS as a day trader and thus avoid the Wash Sale rules?
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I'm also considering.

One item that is stopping me from doing so is that while I trade most days I hold some long term positions that are 6+ years and they have a large cap appreciation. I don't want to sell them, If I go MTM, it seems I'll trigger taxes on these long term positions.

I don't know if you are allowed to separate your trading accounts from your long term accounts, using MTM on the former and the normal rules for the latter.

DS
 
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