Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: TheNoBoB who wrote (5773)	2/26/2023 1:46:00 PM
From: Elroy	Read Replies (1) \| Respond to of 5810

Interesting, thanks. From here out I've gotta pay closer attention to realizing losses and Roth automatic reinvestment of dividends. To be fair, it seems like if you sell 1,000 shares at a loss, and buy 1 share within 30 days, 1 share of the loss should be subject to a wash sale violation penalty, and 99 should not. Wait....maybe that's how it works. Are wash sale violations "per share" or is a big loss completely offset by a small purchase?

To: TheNoBoB who wrote (5773)	4/3/2024 12:57:55 AM
From: Privately	Read Replies (1) \| Respond to 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?