How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Mark Taylor Your Own Question
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1607
Experience:  Certified Public Accountant
93680669
Type Your Tax Question Here...
Mark Taylor is online now
A new question is answered every 9 seconds

I have a question about a capital gains loss if tool in 2016

Customer Question

i have a question about a capital gains loss if tool in 2016 and the 30 day rule
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: to sold shares of SWHC on about 12-24 and took a loss of about $30,000, This was in a regular brokerage account. if i but shares in my newly opend traditional iRA account, will this be considered a wash and eliminate my capital gains loss of 2016?
JA: Is there anything else important you think the Accountant should know?
Customer: it has been less than 30 days since i sold the swhc shares and took the capital loss
Submitted: 1 month ago.
Category: Tax
Expert:  Mark Taylor replied 1 month ago.

Hi, my name is Mark. I will be happy to help you with your questions. The IRA would be separate from your individual brokerage account. Buying the shares in your IRA would not trigger a wash sale.

Expert:  Mark Taylor replied 1 month ago.

I hope you found this information to be beneficial. If this answered your question please take a few moments to rate my response. A rating is needed in order for me to receive credit for helping you today. The rating bar is located at the top of the page – ranging from 1 to 5 stars. If you need me to clarify aspect of my response or if there are additional areas of the question that you would like me to consider please let me know. I would be happy to continue the discussion. It has been my pleasure helping you today.