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IRS Audit — day trader wash sale confusion

Started by desperate_investor_help · Jul 20, 2024 · 874 views · 12 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
DI
desperate_investor_help OP

I'm in a difficult situation and trying to figure out my next steps.

day trader wash sale confusion. I've been dealing with this for about 11 weeks now and the situation isn't improving.

I have already tried to resolve this directly but the other party is not cooperating.

Should I hire a lawyer for this or try to handle it myself?

TL
Mod_TermsLaw Moderator

I specialize in this area of law. Here's my take on the legal issues.

There are several legal theories that could apply here. The strongest is probably the relevant statute, which requires showing actionable.

You should consult with a local attorney who handles these cases. Many offer free initial consultations.

SA
seeking_advice_homeowner_MA

NAL, but from what I've read, you should file a complaint. That said, definitely get a lawyer to look at the specifics.

NH
need_help_worker_NC

NAL, but from what I've read, you should file a complaint. That said, definitely get a lawyer to look at the specifics.

TA
TenantRights_Advocate

Been there. Here's what I learned.

In my case, it took about 2-4 months to resolve. The key was hiring an attorney to send the initial letter.

EA
EstatePlanner_AZ

Been there. Here's what I learned.

In my case, it took about 2-4 months to resolve. The key was hiring an attorney to send the initial letter.

ES
eComm_Seller_2022

Been there. Here's what I learned.

The biggest mistake people make in this situation is filing with the appropriate government agency. I'd recommend gathering evidence first instead.

FD
frustrated_dev_2024

NAL, but from what I've read, you should document everything. That said, definitely get a lawyer to look at the specifics.

TA
TenantRights_Advocate

Been there. Here's what I learned.

In my case, it took about 1-3 months to resolve. The key was escalating to a supervisor/manager.

TT
throwaway_trader_question

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

FS
frustrated_seller_2026

NAL, but from what I've read, you should check your state's specific laws. That said, definitely get a lawyer to look at the specifics.

AI
anon_investor_TX

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

PB
PatentAgent_Boston

I went through almost the exact same thing.

The biggest mistake people make in this situation is filing with the appropriate government agency. I'd recommend gathering evidence first instead.

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