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| First off, since it appears you have limited knowledge on the tax side of trading I would encourage you to seek a professional to help you out
When it comes to these types of things details matter
So keep in mind any comments made are worth whatcha paid for em
The professional traders aren't going to like this analogy, but it's like going to the casino
You get chips and play (in your case you have been buying in several times but you haven't left the casino yet). Once you are ready to leave you go to the cages and cash out. Only then do you know how much more or less you have compared to when you walked in. At that point it becomes a loss or gain
That margin money you sent in is just to keep your head above water so you can keep playing. It's not a loss or gain till you leave the casino. And each trade is like a trip to the casino. And the time gap between when you arrive and leave for that specific trade is important for distinguishing between short and long term trades
When I day trade I have been in and out in less than 10 seconds. Sounds crazy but 2 pennies on 5K shares a couple of times a day makes for some nice spending cash
Wash rule is supposed to close a loop hole of guys closing a position out for a gain or loss usually for taxes purposes and then immediately getting back in all to dodge some dates. If your an intraday trader it makes record keeping horrible
Again seek some help. I use software to help track my trades and then proof the year end reports and hang me to my tax guys for final proof and file. And even then there can be questions
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when marketing loss is shown
