Hi guys, just a question on how the following situation would be treated for tax purposes.
I bought share X when the market opened for say $1 and sold it a few minutes later at say $1.10 for a profit of $100.
Then I decide to buy another parcel of share X on the same day at a price of say $1.05, hoping to take advantage of a volatile price and do a quick trade. However, the price tumbles to $1.02 and I sell it off for a loss of $30.
Towards the end of the day, I decide to pick up another parcel of share X at a price of $0.90, and continue to hold this for the time being.
Would the loss of $30 be considered part of a wash sale and ignored by the tax office? Any another tax issues that may arise?