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Author: rc318 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Deduct taxable Loss? Date: 9/22/2000 5:24 PM
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If I sell say intel at a loss at the taxable account and buy them back the same day at an IRA account, am I allow to deduct the loss. Thanks
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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 40243 of 121095
Subject: Re: Deduct taxable Loss? Date: 9/22/2000 5:36 PM
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If I sell say intel at a loss at the taxable account and buy them back the same day at an IRA account, am I allow to deduct the loss.

Beats us. Type "wash IRA" in the search box above (full search), and you can read various thoughts. There is no clear answer.

TMF ExRO
Phil Marti

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Author: donk23 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 40245 of 121095
Subject: Re: Deduct taxable Loss? Date: 9/22/2000 5:43 PM
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If I sell say intel at a loss at the taxable account and buy them back the same day at an IRA account, am I allow to deduct the loss. Thanks

As TMF ExRO says, there are not clear rulings on the matter. The downside, however, is that if your case comes to the attention of the IRS and they assert that your IRA is a "related party" (which they likely would), you get stuck in a bad position. See Kaye Thomas' remarks at http://www.fairmark.com/buystock/wash.htm for more details.



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