Wash Sales Suck! Why Active Day Traders Need To Elect Mark-To-Market.

Wash Sales Suck! Why Active Day Trader Need To Elect Mark-To-Market Accounting!

Day Trader Taxes can be extremely complex due to the ever changing tax laws. Mark to Market method has the effect of eliminating wash sales and converting capital gains and losses into ordinary gains and losses.

IRS Tax Topic 429 Trader In Securities
https://www.irs.gov/taxtopics/tc429

Change In Accounting Method
https://www.irs.gov/forms-pubs/about-form-3115

0:00 Introduction
0:19 Tax Loss Harvesting
1:09 What An Active Trader Is
1:36 The Mark To Market Election
3:10 A Time Based Election
4:07 Key Second Step
4:50 Decision Point

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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 advice 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 Wash Sales Suck! Why Active Day Traders Need To Elect Mark-To-Market. канала Brian Rivera, CPA