TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Friday, 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.

https://taxprof.typepad.com/taxprof_blog/2007/12/irs-applies-109.html

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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 7:32:41 AM

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