IRA Rules

Archive for February, 2006

Self Directed IRA with FreedomGrowth.com :: Self Directed IRA Consultant

the troubles part 1

Question: If you sell a stock in a non IRA account and rebuy in an IRA account is it subject to th IRS wash rule?

Stock was sold than bought within 30 days.

Answer: Starting with tax years 2008, yes.

The 2008 Instructions for Schedule D (2008) say:

“A wash sale occurs when you sell or otherwise dispose of stock or securities (including a contract or option to acquire or sell stock or securities) at a loss and, within 30 days before or after the sale or disposition, you… Acquire substantially identical stock or securities for your individual retirement arrangement (IRA) or Roth IRA.”

Man Blows up IRS!