"DF2" <replyvia[at]newsgroup_please.com> wrote in message
newsct3q4hj6orrtl2ei0osujkk7pn94cojdt[at]4ax.com...
- quote -

Could anyone else confirm this? I'm not able to find anything on the IRS
website or in their publications that supports this statement.

It seems to me that the purchase of the shares for the IRA automatically
triggers the wash sale, even if he subsequently sells them and doesn't
repurchase them for 31 days, or buys shares of a different fund.



<< 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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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

In misc.taxes.moderated, Vigo wrote:

- quote -

Indisputably. That is to say, that while opinions vary, I think
everyone will agree on that.

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

"DF2" <replyvia[at]newsgroup_please.com> wrote in message
news:f923q4pncjbl5v04optqslm12flppbdevv[at]4ax.com...
- quote -

Would that solution allow taxpayer to claim the loss, then?

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In misc.taxes.moderated, Vigo wrote:

- quote -

Sell the shares of that fund in the Roth, and stay out of the fund
for 31 days. You could even immediately buy into a similar fund
with the proceeds. That should functionally remove any problem.

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On Feb 21, 6:09*pm, Rich Carreiro <rlc-n...[at]rlcarr.com> wrote:
- quote -

I agree with Rick. See also Publication 550 about sales by Related
Partices and these ARE related parties.

ed

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

"Vigo" <sbrivas[at]bellsouth.net> writes:

- quote -

No. In fact it's even worse. The official IRS position is that
in a case like this the loss is not only disallowed, but is
forfeited (unlike in a normal wash sale where the disallowed
loss is added to the basis of the "replacement" shares).

--
Rich Carreiro rlc-news[at]rlcarr.com

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

Taxpayer sells shares of mutual fund in taxable account on 1/5/09 and incurs
a loss. He purchases shares of the same fund in his Roth IRA on the same
day. Does the fact that one account is taxable and the other is an IRA in
any way negate the wash sale rule? If not, is there any way to rectify the
error so that he can still claim the loss?

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >