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I had substantial (on-IRA) stock sale losses that I could not…

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I had substantial (on-IRA) stock...
I had substantial (on-IRA) stock sale losses that I could not claim due to the wash rule. According to IRS...If your loss was disallowed because of the wash sale rules, add the disallowed loss to the cost of the new stock or securities. The result is your basis in the new stock or securities. This adjustment postpones the loss deduction until the disposition of the new stock or securities. Your holding period for the new stock or securities includes the holding period of the stock or securities sold.
Should I amend my last year tax to allow for this? Should I locate a CPA to determine if I can get some relief?
Submitted: 3 years ago.Category: Tax
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6/3/2015
Tax Professional: Lev, Tax Advisor replied 3 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,974
Experience: Taxes, Immigration, Labor Relations
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Hi and welcome to our site!
Your statement is absolutely correct.
But it is not clear if you sold the new stock or securities which triggered the wash sale limitation or you still have them?
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