The Importance of Wash Sales for Long Term Investors

Longer term investors are doing what they call wash sales or we call kind of like straightening the books where if you want to show a certain thing for the next year, you will typically sell something at the end of the year so that your balance sheet shows. And then you just rebuy it at the new year. It's nothing that I think we need to worry about as traders, more so for long term investors or if you're someone that has a business. But speaking of traders, right? There is a way to deduct more and that's going to depend on your status as a trader, right?