[[Too good to be true, but I'll ask anyway. Is this a wash sale? If so, that just means that if I do this, I can't take the loss, right? Would it make a difference if I bought the new shares of XYZ in the IRA *before* selling them in my regular account? I reply: There's been no definitive ruling, but many people think that there's a significant risk this would be a wash sale. The effect would be to prevent you from offsetting the loss against your capital gains, or deducting it from ordinary income. Buying the new shares first will not help unless you buy them more than 30 days before your sale; the wash sale rule is written to guard against precisely the strategy you suggest. --Bob]]And I agree with Bob...as do many other tax pros. You could get hung up by the "related party" rules and/or the "control" rules. Either way, you would be running a risk. I prefer NOT to step on Superman's cape.TMF TaxesRoy
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