Day Trader and Wash Sale Rules

Is it better tax-wise for a Day Trader to register with the IRS as a day trader and thus avoid the Wash Sale rules?

 

I think I can say without hesitance and with the utmost confidence...

maybe.

 

Depends how much you like oyur money.

Akuma

 

I'm also considering.

One item that is stopping me from doing so is that while I trade most days I hold some long term positions that are 6+ years and they have a large cap appreciation. I don't want to sell them, If I go MTM, it seems I'll trigger taxes on these long term positions.

I don't know if you are allowed to separate your trading accounts from your long term accounts, using MTM on the former and the normal rules for the latter.

DS