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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Juliet who wrote (1212)10/2/2000 1:06:11 PM
From: donjuan_demarco  Read Replies (1) of 1383
 
My view is that the IRA should be treated as a separate entity, and that therefore the wash sale rule does not apply if you sell out of taxable and buy out of the IRA.

My reasoning for this is that, for tax purposes, the IRA is not treated as "owned" by the taxpayer (as is the case with a grantor trust).

So, I would argue that the IRA is, for purposes of the wash sale rules, a separate entity (even though the taxpayer directs the investments of the funds).
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