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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Nutty Buddy who wrote (3617)	1/30/2001 3:40:31 PM
From: Larry S.	Read Replies (1) \| Respond to of 5810

some people feel that IRA trades affect the wash sale dates. other do not. truth is, there's no reporting of sales in IRAs. may your conscience be your guide. larry

To: Nutty Buddy who wrote (3617)	1/31/2001 9:50:37 AM
From: Bob Miller	Read Replies (1) \| Respond to of 5810

Now you got it<G> >EOM>

To: Nutty Buddy who wrote (3617)	2/1/2001 8:48:12 AM
From: Colin Cody	Respond to of 5810

Buddy, When you sell a stock at a loss and then buy it back, the new shares get a higher basis. If those new shares are held within an IRA, then you would have a higher basis stock within an IRA. When you finally sell the stock held by the IRA then in THEORY the new higher basis would lower your gain (or increase you 2nd loss). But since IRAs are either tax free or tax-deferred in effect you would be sending your tax loss off to never never land. Quite a risk to take, just playing games trying to circumvent the wash sale rules, IMO. Colin