Re: IRA funds creating wash−sale situation
Re: IRA funds creating wash−sale situation
Source: http://newsgroups.derkeiler.com/Archive/Misc/misc.taxes/2007−07/msg00256.html
• From: joeu2004
• Date: Sat, 28 Jul 2007 09:04:41 −0700
On Jul 27, 8:22 pm, researcher wrote:
If you use money in a Roth/IRA account to actively buy and sell
stocks do you have to be concerned with wash sale situations.
No, if all of your trades are within an IRA (Trad or Roth) or other
qualified plan. The purpose of the wash sale rule is to disqualify
the deduction (reduction of capital gains) of losses if you purchase
the same stock within the statutory time−frame of the sale. Since you
do not report gains and losses of sales within IRAs, there is no loss
to disqualify.
However, if some of your trades are outside an IRA or other qualified
plan, purchases of the same stock within an IRA might disqualify the
deduction of losses due to sales of that stock outside the IRA under
some circumstances. At least, that is the opinion of Kaye Thomas at
fairmark.com.
.
Re: IRA funds creating wash−sale situation 1