Thanks for all the responses @GeorgeM777 ! You’re awesome!
one last question for you:
if I had technically a short term capital loss of -17K in 2021… but because of not having MTM I fell into the was sale rule and insyeqd my 2021 1099B shows short term capital gains of 12K…. I ended up having to pay taxes on this capital gain for 2021.
This year in 2022 I made the 17K money back and more … so my wash sales were removed and I’m showing for this year a short term capital loss of course because it carried over into this year once I stopped trading the same ticker or I made money on the ticker.
If I elect MTM 475 for 2022, do you foresee a problem ? Will I lose the ability to claim this negative balance if I do claim MTM for this year ? Since technically without the wash sale rule those loses happened in 2021 ?
