PSA Tax: Wash Sale Rule will fuck you up : RobinHood



PSA Tax: Wash Sale Rule will fuck you up : RobinHood

What is it? The fucking bane of Leveraged ETF traders:

If you sell a security at a loss and buy the same or "substantially identical" security within 30 calendar days before or after the sale, the loss is typically disallowed for current income tax purposes. This is because of the so-called wash sale rule.

Cucknle Sam will happily take your gains within the 30 day trade, but loss is simply shoved up your ass. I paid more taxes this year than I made in gains (please look up this word if you aren't sure what it means), aka $200 gains and $300.


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