Can anybody point me towards a succint explanation of the WASH SALE rule? This is my first year with a good profit and my first year worrying about this crap. I am using Tradelog for my IB and Tradestation accounts. I found this link: http://www.armencomp.com/tradelog/wash_sales_avoid.shtml My confusion is that in the Tradelog report (Gains & Losses), I see a bunch of wash sales listed over the past year (e.g. QQQQ in July 2005). It's December now and I don't have any position in those stocks. Can I buy them back in January if I don't trade them in December? What if I do trade them in December and have a net loss in that stock for the year? What a pain in the rear. Is it time to go Mark to Market?