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Subject:  Wash Sales & IRA Accounts Date:  7/24/2000  1:07 PM
Author:  berj Number:  37928 of 127753

I have bought a stock which has depreciated in value. I hold this stock in my regular (taxable) brokerage account. I still want to hold it, but I want to write off the losses without waiting the 30 days required by the wash sales rule. I also have an IRA account with my brokerage firm.

So my question is this, can I sell this stock in my regular account and immediately buy it in my IRA account? Will the wash rule apply? Are there any other tax laws which might not permit me doing this manuever?


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