Hi All, I am new to this forum and this is my fisrt question about wash sale. I guess lots of people ask about the same thing, so here is my funny story to make it a bit easier on the audience This year (2010) I bought TurboTax in Nov/Dec. with the intention to calculate my taxes before the end of the year and make some adjustments if necessary, only to discover the existence of "wash sale" rule. I tried to read more about it, but suddenly realized that wash rule allows you to "extend" the period of your initial investment. It looks like making wash sales/day trading on a regular basis for more that 365 days you will be actually allowed to declare your investment as a "long term" and get a better tax rate for you gain (if you actually end up with the gain). Is that true about long term and wash sale, and does it apply to anyone, or investors only (meaning that "traders" can't do that, even if they have not elected mark-to-market, i.e. have not specifically declared them as traders for IRS)? Thanks a lot, Newbie T1.