Registered: Feb 2011
09-10-12 03:45 AM
Was I ambushed or was there enough advance info letting traders know in 2010 that there was going to be a new sheriff in town for 2011 ?
I came back from overseas and discovered all these WASH SALES on my 1099 from Penson. I traded no differently than for many years earlier in my pairs trading: one leg a gainer and one a loser. I frequently traded the same pair over and over scalping a rolling trend in the spread. I had never been called out for a wash sale.
I have not examined the form closely yet, but will soon, as I have caught up on my higher priority domestic issues. I am not looking forward to paying taxes on the leg with the gain and not being to offset with the leg having the loss.
Again, was there advance warning about this in 2010 for 2011 ?