Still not getting a clear answer on this simple wash sale query

Mar 22, 2019 1 Replies

Let me try again.



Let's say on 2/25 I buy 500 sh. of XYZ in my traditional IRA account and do the same in my regular brokerage account.



XYZ goes down and I would like to just take the loss in my regular account. But if I sell it today that loss will be permanently disallowed due to the wash sale rule.



But if I wait until say 3/29 (> 31 days), then I can take the loss -- no wash sale involved. Note that I do not intend to buy XYZ again for at least 31 days.



Am I correct?



Mel


Yes. If there is no purchase, +/- 30 days of the sale at a loss, the loss is not washed out by anything. That should be concise enough and should have been my first attempt at answering.

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required