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http://boards.fool.com/elibortprairiela-writes-in-part-im-surprised-11581830.aspx
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| Subject: Re: Wash sales between taxable and tax-deferred | Date: 11/28/1999 11:04 PM | |
| Author: Bob78164 | Number: 21971 of 118719 | |
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elibortPrairiela writes (in part): I'm surprised we've never seen a reported case directly on point. The statute (Int. Rev. Code sec. 1092) says that if 'the taxpayer has acquired' the same stock that he's claiming a loss on, then he gets no deduction. I reply: The technical argument, it seems to me, is that "the taxpayer" hasn't necessarily acquired the stock by instructing the IRA custodian to purchase it. As I recall, IRAs are structured as trusts, and there are many circumstances in which a trust and its beneficiary are treated as different entities. Like Roy, I wouldn't care to litigate with the IRS whether this is one of those circumstances, though. --Bob |
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