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T O P I C     R E V I E W
Jo4321  - posted
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.

It seems like it wouldn't be reported as a wash sale.

Jo
 
Bob Frey  - posted
My bet is on your tax return it would be. Best ask an accountant.
 
Jo4321  - posted
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.
 
metal1  - posted
the short answer is NO. the long answer is here..

http://www.fairmark.com/capgain/wash/wsira.htm
 
Jo4321  - posted
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?

Jo
 
metal1  - posted
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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