Trading Broker fees/Tax/Washsale/Please advice.......

Quote from fishtrader:

Cool..! Got it...!!!
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I don't think it is that simple. I think it depends on the chronological order of the trades. You should play around with that free wash sale calculator to see what I am talking about. I.e., even if your last trade for the year is a profitable one, that doesn't mean you will be able to take all the losses if there are wash sales in the past.
 
Quote from sprstpd:

I don't think it is that simple. I think it depends on the chronological order of the trades. You should play around with that free wash sale calculator to see what I am talking about. I.e., even if your last trade for the year is a profitable one, that doesn't mean you will be able to take all the losses if there are wash sales in the past.
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no. he is correct. if the last trade of the year is profitable for the year there can be no wash sale violation.
 
So what's the difference if my last trade of the year is
on Dec?? What if my last trade if the year is on July???
What makes it different?

As I said, I trade BAC, RIMM everyday, same pattern
(strategy) everyday.
 
Question about M2M and prop trading:

Do you need to declare M2M if trading prop? Does it make a difference if you get a K-1 or 1099? Does trading through the prop structure protect the individual even if he has to list trades? I am confused by this and current shop I am leaning toward CANNOT give accurate info.

Any insight from your experiences would be much appreciated.

Thx
 
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