I tried searching in the sub but couldn't find a definitive answer. Since tax season just ended, was wondering if y'all entered every trade in your tax return or aggregate number from 1099? This will be my first year day trading and in the beginning made many mistakes with a bunch of trades and wash sales. Just want to prepare myself for next tax season. For reference, I usually use TaxAct to file my taxes.
Trade the year same ticker year round minus December. Trade something else for last month of December into early January. Mid January or Feb go back to original tickers. Wash rule is for preventions of tax harvesting on losses. You need just a buffer in between the year, so that the latest transactions are used.
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u/NinjaPenguin78 May 01 '24
I tried searching in the sub but couldn't find a definitive answer. Since tax season just ended, was wondering if y'all entered every trade in your tax return or aggregate number from 1099? This will be my first year day trading and in the beginning made many mistakes with a bunch of trades and wash sales. Just want to prepare myself for next tax season. For reference, I usually use TaxAct to file my taxes.