Quote:
Originally Posted by retiredguy123
Just to clarify, if you sell a stock within a year of purchase (not 30 days) the gain is taxed at your ordinary income tax rate. Also, the wash sale rule is not new. It has been in effect for almost 30 years.
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Thanks - For the record please no one take my post as advice on how to day trade and that I'm up on the rules. Been a long time since I dabbled in that arena. My point was day traders were typically looked at as the bad guys even unpatriotic. There was some loopholes they got to duck under but that is pretty much cleaned up. They were an easy mark for someone to blame if the market went into a sudden downturn.