Author
Topic: Wash sale
Jo4321
Member
posted January 15, 2008 14:54
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.
Posts: 3387 | Registered: Mar 2006
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Bob Frey
Member
Member Rated :
posted January 15, 2008 15:18
My bet is on your tax return it would be. Best ask an accountant.
Posts: 3417 | From: Cleveland, Ohio | Registered: Jan 2000
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Jo4321
Member
posted January 15, 2008 15:51
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.
Posts: 3387 | Registered: Mar 2006
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Jo4321
Member
posted January 26, 2008 22:39
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?
Posts: 3387 | Registered: Mar 2006
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metal1
Member
Rate Member
posted January 28, 2008 09:55
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
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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