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December 21, 2007
IRS Applies § 1091 Wash Sale Rules to IRAs
The IRS yesterday issued an advance copy of Rev. Rul. 2008-5, 2008-3 I.R.B. ___ (1/22/08), which applies the § 1091 wash sale rules where a tapayer sells stock or securities at a loss and then causes her IRA to purchase substantially identical stock or securities within thirty days. As a result, the loss on the sale is disallowed and the taxpayer's basis in the IRA is not increased.
December 21, 2007 in IRS News | Permalink
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» INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE) from Roth & Company, P.C.
We mentioned the dangers of "wash sales" the other day. The wash sale rules disallow a loss on the sale... [Read More]
Tracked on Dec 21, 2007 10:32:41 AM
