3 Ways to Avoid the Wash Sale Nightmare!

3 Ways To Avoid The Wash Sale Nightmare!
As you approach the end of a tax year paying attention to the Wash Sale Rule is something that will keep you safe; and avoid being a wash sale casualty. The rule was created to prevent "tax loss harvesting".

A basic wash sale happens when a security is sold at a loss, then repurchased in a short period of time before or after the loss. The IRS has established the wash sale rule in order to prevent anyone from reducing their capital gains by creating wash sales. The most important time of year for day traders to pay attention to is December & January!

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For Related Videos on Day Trader Taxes:
✅ How To Qualify For Day Trader Status
https://www.youtube.com/watch?v=SkXkSWaLwLs
✅Why Active Day Traders Should Elect Mark-To-Market
https://youtu.be/ixkmGpDIAF4
✅ Day Trader Taxes | Strategies and Debunking The Top 3 Tax Myths!
https://youtu.be/oj1Hih0XN6Y

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DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need tax solutions I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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Видео 3 Ways to Avoid the Wash Sale Nightmare! канала Brian Rivera, CPA