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Subject:  Re: Wash Sales & IRA Accounts Date:  7/25/2000  7:01 PM
Author:  TMFTaxes Number:  38006 of 127613

<<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?>>

As Phil points out, there is nothing that you can point to that would allow a clear "yes" or "no" answer. My personal opinion is that the IRS could mount a very good case for making the wash sale claim...even if the account is an IRA account. There is one court case that has ruled around this issue...since the taxpayer had control of both his regular account and his trust account they were treated as one big account...even though they were legall separate.

Many tax pros believe that the wash sale provisions would apply. I'm one of them. Kaye Thomas (whom I have the utmost respect for) is another. I feel like I'm in good company.

But as Phil points out, others disagree. I don't think it's worth the risk...but that's just me.

We've discussed this issue many times in the past. Do the word search and check out the various thoughts on the issue.

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