The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Wash Sales/IRA Date:  3/19/2004  6:12 PM
Author:  jaloti Number:  70773 of 132801

"Everything that goes on within the IRA is self contained. The only time that anything becomes an issue is when I take a distribution out of the account. "

Hi. I'm new here. Previous posts here and elsewhere have made it pretty clear that Master Limited Partnerships (MLPs) held within an IRA expose said IRA to the possibility of having to pay Unrelated Business Income (UBI) tax if that UBI is greater than $1000. See .

While I'd like to believe that what goes on within the IRA is self-contained, the potential tax liability for UBI from MLPs makes me think transactions here may be considered as part of a wash sale.

I'm not a tax professional. I didn't even sleep in a holiday inn last night. So take this for what its worth.

Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us