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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: TheNoBoB who wrote (5773)4/3/2024 12:57:55 AM
From: Privately  Read Replies (1) of 5810
 
Hi NoBoB,

I realize I am commenting on an old post, but your answer confused me

You said:

And it's the worst kind of wash sale, since once the cost basis adjustment gets locked into the IRA, the loss is gone forever. Wash sales in a cash/margin account can eventually be recovered if so desired, but in the IRAs they're forever lost.
It seems to me that because the IRA is tax exempt, the cost basis adjustments from wash sales don't really matter (nor do gains and losses more generally). When you take a distribution, the distribution is taxed (or not, in the case of some Roth distributions) regardless of what the basis is in the IRA.


What am I missing?
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