Wash sale - gains/losses and repurchases in Roth ira

[Yoyoguy]

I accumulated a company stock over time at different prices. I sold all of them with capital gains and short term losses. I bought the same stock for same quantity in my Roth IRA. Is this a wash sale? Can I claim the short term losses?

[JulieS]

No, you don't claim gains, losses or wash sales inside a Roth IRA. That goes for a traditional IRA as well.

With both types of IRA, no income or loss is reported, just contributions and distributions. 

[Yoyoguy]

I bought and sold in brokerage account. Later bought again in Roth IRA.

[JohnB5677]

This would still create a Wash Sale.

If you sell a stock in your brokerage account and repurchase it or a derivative in your ROTH IRA within 30 days, the loss is disallowed.

[Yoyoguy]

However, there are gains in brokerage account to offset the losses.. Even then, it is a wash sale?

[MikeinSC]

The wash sale rules are based on a specific stock or equivalent being re-purchased within 30 days.  This has nothing to do with other gains or losses.  

[fanfare]

The broker selects identical shares to be assigned the disallowed loss.

If your assigned identical shares are in the regular account, they will offset.

If your assigned identical shares are the shares you bought in the Roth, there's no way to recover the disallowed loss.

You'll have to look at the consolidated 1099-B to see if you sold the assigned shares in 2019.

[fanfare]

If your broker cannot find triggering shares, (your Roth is with another broker for example)

you are supposed to follow the rules and disallow the loss yourself.

(See IRS Pub 550 -Investment Income and Expenses)

When the new shares are in an IRA, there's no way to recover the disallowed loss.