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State Tax Issue — day trader wash sale confusion

Started by newbie_seller_IL · Aug 14, 2024 · 1,334 views · 14 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
NS
newbie_seller_IL OP

I've been trying to resolve this on my own but I'm stuck.

day trader wash sale confusion. I've been dealing with this for about 14 weeks now and the situation isn't improving.

I have already done some research online but the other party is not cooperating.

Am I overthinking this or is this a real legal issue worth pursuing?

JC
just_curious_student_IL

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

SA
seeking_advice_business_owner_2022

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

CS
confused_student_today

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.

CF
confused_freelancer_2026

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

RM
RestaurantOwner_Miami

Not a lawyer, but I have direct experience with this.

The biggest mistake people make in this situation is having everything documented. I'd recommend keeping a detailed timeline instead.

TL
Mod_TermsLaw Moderator

I've handled similar cases. 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.

HM
help_me_student_CA

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.

TP
throwaway_parent_TX

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

CA
CorpCounsel_Amy

I've dealt with this before.

I ended up filing with the appropriate government agency, which cost about $4-8 but saved me a lot more in the long run.

FS
frustrated_seller_TX

Have you tried reaching out to your state's bar association? They sometimes have free resources or mediation services.

AB
AgentBroker_TX

I went through almost the exact same thing.

The biggest mistake people make in this situation is hiring an attorney to send the initial letter. I'd recommend being patient with the process instead.

FB
frustrated_buyer_MA

Have you tried reaching out to your state's labor board? They sometimes have free resources or mediation services.

GL
GigWorker_LA

I went through almost the exact same thing.

I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.

WB
worried_business_owner_CA

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

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