Know the tax consequences when investing (The Journal News)
Know the tax consequences when investing (The Journal News)
Last month, I sold all shares of a couple of stock mutual funds in my traditional IRA and used the money from the sales to buy bonds for the IRA. That same day, I used some of my cash reserves to buy the exact number of shares of the same stock funds in a taxable account outside the IRA. I engaged in these at-first-blush “wash” transactions because, while there are no tax consequences now, I …