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Author: Hohum77 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 121061  
Subject: Re: Reinvesting Roth liquidated for a tax loss Date: 12/7/2008 7:03 PM
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Is there any regulation preventing me from reinvesting funds from liquidating Roth accounts in 2008 into NEW Roth accounts (albeit different funds to avoid "wash sale" rules) also in 2008? The liquidation was performed in order to claim a Schedule A tax loss for year 2008.


I know one can borrow from an IRA and repay the monies within 60 days, no penalty. Not positive, but I think closing a fully funded Roth IRA in 2008, means you're done for 2008.

If you only have a Roth account, losses and gains in that account don't trip up wash sale rules. You need transactions of the same stocks/funds in a taxable account to have wash sale rules come into the picture.


Hohum
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