I'm trying to understand here.... If you buy, then sell the same lot a day later you don't have a wash sale because you were selling the same share that you just bought. What happens if you buy 100 shares of VTI today in your IRA, then tomorrow sell 100 shares of VTI out of your taxable account for a lot. That would be a wash sale because while you still bought and sold the same number of shares, they weren't the SAME shares. Is that right?This statement is not quite true as has been discussed and shown to be false at bogleheads.org many times.You can't buy/sell the same or a substantially identical fund +/-31 days if you sold in taxable for a loss.
Example: On February 29, 2024 I buy 100 shares of VTI at $252.58, then on March 1, 2024 I sell 100 shares of VTI for $251.00 (i.e. at a loss) specifically identifying those shares bought the day before. This is NOT a wash sale. This is despite selling shares for a loss purchased less than 31 day ago. Another example was documented in this post viewtopic.php?p=7505983#p7505983
This detail messes up a lot of people and a lot of people writing about wash sales on the internet, too. The IRS is not messed up on this though,
Statistics: Posted by WeakOldGuy — Thu Feb 29, 2024 4:58 pm — Replies 7 — Views 314