>>if the shares were in
different accounts, you don't have to further designate them.
How sure are you of this? I've heard contradictory stories
(I've heard contradictory stories on almost everything there
is about designated lots, to tell the truth). Is there
an authority somewhere? To be sure, if it came to that
I would pose it as a strong argument. In that I agree.
Anyhow, I know for sure that designating shares won't avoid
a wash sale, if there is a wash sale. That's why I was
trying to be careful to ask independent questions. Pure
intellectual curiosity, if there is such a thing in regard
to tax law <ggg>.
The more fundamental
question is, does the small gain on the swing sale allow
me to avoid reporting a wash sale. I don't think that's so
clear, even if, as you say I have substantively designated
the shares (which I would certainly agree is
reasonable).
Actually, the wash sale rules specifically
deny designating shares, or rather, they make it irrelevant.
They even disallow entirely distinct trades among related
parties, such as, for instance, if I buy 'em and my wife
sells 'em in different accounts at different firms.
Thanks for the feedback. Greatly appreciated.
Spots
Edit: I said the wash sale rule specifically abrogates designating
shares. That's true to designate a LOSS. I guess the
gist of my question is, is it also true that you can't designate
a GAIN to avoid a wash sale. |
