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#1
03-17-2008, 03:53 PM
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 Re: Wash sale in different accounts On Mar 15, 9:43 pm, martin lynch <odiegoo...[at]yahoo.com> wrote: - quote - > If I sell an amount of holdings in a mutual fund on a certain date, in
I think the wash sale rule still applies, because the point of the> a non-retirement account, and purchase the exact same amount of the > same fund on the same date, but in a Roth IRA, will thewashsalerule > still apply? wash rule is to subject you to market risk before you can take the loss. So the disallowed loss gets transferred to the stock in the Roth IRA, but as this is a tax-free trading account, you lose the wash- sale carryover. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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03-16-2008, 03:48 AM
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| Re: Wash sale in different accounts martin lynch wrote: - quote - > If I sell an amount of holdings in a mutual fund on a certain date, in
Discussed here many times. Wash rule applies if the sale was a loss. Of> a non-retirement account, and purchase the exact same amount of the > same fund on the same date, but in a Roth IRA, will the wash sale rule > still apply? course if the sale was a gain, you pay the tax, and are free to repurchase in any account you wish. See http://www.fairmark.com/capgain/wash/wsira.htm for their explanation as well. Joe www.blog.joetaxpayer.com -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
03-16-2008, 03:43 AM
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| Wash sale in different accounts If I sell an amount of holdings in a mutual fund on a certain date, in a non-retirement account, and purchase the exact same amount of the same fund on the same date, but in a Roth IRA, will the wash sale rule still apply? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| accounts, sale, wash |
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