I have a non-inherited Roth IRA and own a lot of ZZZZ stock. I just gathered together some of our other liquid assets and want to put them into a non-qualified account.My strategy for investing/speculation is to put what I think will be the biggest gainers into my Roth and the slow movers into my non-qualified account.So that's the set-up for the issues I think I understand but want to run by you folks:I want to sell some of my ZZZZ in the Roth to free up $ for other ideas. ZZZZ is a nice slowly appreciating gainer and I will have a nice profit when I sell some of it.....a fact which I believe will have no tax ramifications for me.I then want to use a portion of the newly deposited money and buy back the same number of shares of ZZZZ in the non-qualified account (which currently has no position in ZZZZ).My understanding is that "wash sale" rules usually only apply to capital losses, not capital gains; and that selling in my Roth is a completely unconnected issue for the IRS and they will only have a stake when I either sell ZZZZ in the non-qualified account or it starts paying a dividend, etc.Am I correct in the thinking as outlined? I'm really only checking in here because I've suffered the loss of my spouse and I'm double-checking my thinking as seems prudent, and I always think anything with the IRS qualifies for being prudent.Poz
Please disregard the question I posed, I'm less tired and thinking a bit more confident about my understanding of the tax code as it pertains to my situation, no need to take time to hold the hand of a guy asking stupid questions.Poz
On the contrary, Poz, it is a very good idea to double-check this sort of thing if there is any confusion. Perhaps even when there isn't confusion, but it isn't something you deal with all the time. I know I was plenty confused about enough things when my wife passed last year.In any case, my understanding is that whatever happens inside the ROTH has no impact on anything that happens outside.
It isn't a stupid question. As long as the sale of an asset is at a profit there is no problem with sale and repurchase between non-tax advantaged and tax advantaged accounts. A problem occurs when there is a loss in a non-tax advantaged and the same asset is repurchased in a tax-advantaged account within the wash sale windows.
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