If I sell 1 share of a stock in an IRA Account and buy 25 shares of the same stock in a Non-IRA Account within 30 days does wash sell rule apply?
You'll need to sign in or create an account to connect with an expert.
no because the sale is in the IRA, a tax-deferred account, for which gains/losses are not recognized on your personal tax return. reverse the situation and then there would be a wash sale on only the1 share sold in the taxable account but only if a) there's a loss and b) the purchase in the IRA is 30 days before or after the date of sale in the taxable account. Also, such loss is permanently lost for personal tax purposes.
no because the sale is in the IRA, a tax-deferred account, for which gains/losses are not recognized on your personal tax return. reverse the situation and then there would be a wash sale on only the1 share sold in the taxable account but only if a) there's a loss and b) the purchase in the IRA is 30 days before or after the date of sale in the taxable account. Also, such loss is permanently lost for personal tax purposes.
Great answer Mike. Thanks a million.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Tom in Raleigh
Level 4
achilles113
New Member
20cassie0720
New Member
millbemis
New Member
jl_brooks
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.