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IRS Applies § 1091 Wash Sale Rules to IRAs

Paul Caron

The IRS yesterday issued an advance copy of Rev. Rul. 2008-5, 2008-3 I.R.B. ___ (1/22/08), which applies the § 1091 wash sale rules where a tapayer sells stock or securities at a loss and then causes her IRA to purchase substantially identical stock or securities within thirty days.  As a result, the loss on the sale is disallowed and the taxpayer’s basis in the IRA is not increased.

About the Author

Paul Caron Avatar
Paul Caron
Paul Caron was named Duane and Kelly Roberts Dean of Pepperdine University School of Law on June 1, 2017. Dean Caron joined the Pepperdine faculty in 2013 after serving as the Dorothy and Leonard Straus Distinguished Visiting Professor of Law in the spring semesters of 2010 through 2013. He served as Associate Dean for Research and Faculty Development at Pepperdine in 2015-2017. Before coming to Pepperdine, he was Associate Dean of Faculty and Charles Hartsock Professor of Law at the University of Cincinnati College of Law.
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3 responses to “IRS Applies § 1091 Wash Sale Rules to IRAs”

  1. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…

  2. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…

  3. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…

  4. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…

  5. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…

  6. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…

  7. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    INDIVIDUAL RETIREMENT ACCOUNTS COME OUT IN THE WASH (SALE)

    We mentioned the dangers of “wash sales” the other day. The wash sale rules disallow a loss on the sale…