an easy wash sale rule query

Suppose I buy XYZ and sell it at a loss, in the regular account where my
wife and I are joint owners. Now if I buy XYZ back within 30 days in
that joint account or in my own IRA, that loss is eliminated for tax
purposes (I think permanently if it's my IRA). Is this correct?
BUT... what if I buy it in my wife's IRA???
Mel
Reply to
MZB
Also lost, according to the strict rules. The presumption is that it was a coordinated effort. In an audit, you'd be hard pressed to make the case it wasn't.
Reply to
JoeTaxpayer
It would probably be lost permanently even if you sold at a loss in your _individual_ account, and your wife bought it in her IRA.
Even if you file MFS returns and do not live in a community property state.
-- Arthur Rubin, Brea, CA
Reply to
Arthur Rubin

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