As a day trader, how can i excempt myself from wash- sale rules, & how can I elect mark to market w/ IRS?

Yes, you can accomplish both (no wash sale and elect mark-to-market) by making a Section 475(f) election. The election can only be made if you qualify as a trader in securities (many firms use a threshold of a portfolio turnover rate of 4 times per year). For the election, see instructions to IRS Form 4797 at http://www.irs.gov/pub/irs-pdf/i4797.pdf





The downside is that you lose capital gain treatment which probably won't matter much as long as you don't normally hold securities longer than one year.As a day trader, how can i excempt myself from wash- sale rules, %26amp; how can I elect mark to market w/ IRS?
Don't bother, day trading is stupid. If you like high risk and negative returns, at least have some fun losing your money and go to Vegas!As a day trader, how can i excempt myself from wash- sale rules, %26amp; how can I elect mark to market w/ IRS?
You must contact the IRS, as there are very strict guidelines to be a day trader. Must trade every day.





www.irs.gov is necessary to get approval 1 800 829 1040





when you are qualified then you can deduct many more expenses...





good luck