Pause Trading in December to clear wash sale?

Discussion in 'Taxes and Accounting' started by ppy93, Oct 25, 2022.

  1. R1234

    R1234

    are you sure about that? I don't live in Canada but I remember hearing something like 'superficial' losses
     
    #11     Oct 26, 2022
  2. ppy93

    ppy93

    Thank you for your advice. I really appreciate it!
    I will pause trading from Dec 1 to Jan 1 to clear the wash-sale losses of 2022.
     
    #12     Oct 26, 2022
  3. rb7

    rb7

    In Canada, when you day-trade and/or actively trade, your gain/loss is not considered as a capital gain/loss.
    It's considered as a regular income.
    Taxes are different.
    Capital gain is only 50% taxable (up to a max).
     
    #13     Oct 27, 2022