Wash Sale Rule question?

hi, guys just a off topic question, I haven't traded in a long while, Wash Sale Rule question ? simply, you can trade the same stock many times, if you made money, but if you lose even a dollar, you cant trade that stock for 30 days after ? because that loss was claimed. is that correct? Iam just setting up trade log software ,that what stop me from heavy trading, the dreaded tax time.Wash Sale Rule question?
The hassle is filling out the schedule D. You have to match the sales to the buys, FIFO. If you lot money and and you buy the stock again within 30 days (before or after), you postpone the loss by adding it to the cost basis of the replacement stock. When you sell the replacement stock, you will finally recognize the loss...unless you stupidly bought it again.Wash Sale Rule question?
Do you mind have a look at TradeMax? NoloSoft TradeMax is a tax software designed for active investors or traders to manage their trade data maximize their gain/loss strategy, prepare their Schedule D. http://www.nolosoft.com. Report Abuse