Author
Topic: Wash sale
Jo4321
Member
posted 01-15-2008 02:54 PM
If I take a loss in my trading account, and then buy the same stock back in my IRA, can I count the loss in my trading account.
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Bob Frey
Member
Member Rated :
posted 01-15-2008 03:18 PM
My bet is on your tax return it would be. Best ask an accountant.
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Jo4321
Member
posted 01-15-2008 03:51 PM
I shoulda mentioned that the IRA is a Roth and so nothing is reported cap gains-wise. But, yeah, I guess I should check on that.
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Jo4321
Member
posted 01-26-2008 10:39 PM
Okay, but is there really a way they can tell if you've bought it in another account, if you haven't sold it from that account yet?
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metal1
Member
Rate Member
posted 01-28-2008 09:55 AM
no, there is no real way they can tell unless you get audited. if you get audited, you risk fines plus interest and less likely jail time. you will then be on the IRS radar for a long time. not really worth it when all you have to do it wait 30 days
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