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Investing/Strategies / Retirement Investing
|Subject: Re: Ira tax question||Date: 9/17/2008 3:54 PM|
|Author: Hohum77||Number: 63858 of 76906|
I'm planning on moving a stock (GE @ 28) from my taxable account to my Roth. If I do this would the 30 day "Wash Rule" be in effect?
A couple of points
- IRA contributions can only be in cash
- You wouldn't be able to simply move the stock to your IRA.
- Prior to this year, closing a losing position in a taxable account & re-opening the position in an IRA in less than 30 days would trigger a wash sales event.
Unless it was due to IRA funding issues, I would just try and avoid the issue.
Buy GE in the IRA, wait 31 days, sell GE in the taxable account.
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