Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120800  
Subject: Re: Wash sale Date: 2/18/2001 8:31 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
First off, I don't know the technicality here, but the intent is to be able to claim a loss while still holding onto the stock by putting it in a different account.
If you and your wife file jointly, from a tax point of view there shouldn't be a difference between buying back in your IRA or hers.

You have a loss because a stock you bought, expecting it to go up, did not. It went down. You lost money.
Why are you so certain that now it is a good investment? There are lots of stocks, mutual funds, attractive investments out there that have not lost money for you.
I don't understand why people even THINK about running into wash sale rules by buying back their losers. Market timing is a loser's game. You think this stock is now a screaming buy and it can't go any lower? Not true.
My 2c says buy something else, and there is no question of running into wash sale rules. In an audit you aren't inspiring people to look extra hard because it looks like you are trying to circumvent the rules and they want to catch you at something.
Best wishes, Chris
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement