Comment Re: Yes and no. (Score 1) 24
The penalty isn't really a penalty unless you are trying to game the tax system. Basically, if you buy a share today, sell it tomorrow, then buy it back within 30 days of the sale, it's a non-taxable event. If you wait 31 days, you can claim the loss or gain from the sale, and when you eventually re-sell the stock the sale 32 days from today is the "basis value" for your next gain or loss.
I think Gravis Zero is looking for some actual penalty.
Back in the old days before cheap trading and penny-increment price changes, rapid trading was much more expensive.