I am experiencing similar pain. I feel I should never have started to trade, and I promise never again to trade in my life. I have liquidated my positions. I was not aware of this rule when I started trading. But my losses from washover sales were two times my profits, and now only my profits are being taxed, even if I have made substantial net losses while trading. How is this fair? I am facing a huge tax bill and I feel it was my ignorance. And the thing is even if there are losses shown next year (not from washover sales), I feel this will
Was your tax situation critical? Or did you end up paying such a huge tax bill?
I will pay the enormous tax bill this time and promise never to trade or invest money in stocks again.
