I am reading The Boglehead's Guide to Retirement Planning. In the book, the concept of a wash sale is addressed. I am trying to understand and apply the concept to specific transactions that I recently made.
I recently sold Invesco/AIM Value Equity Fund LCINX and Janus 20 Fund JNTFX. I sold them both at a loss.
If I purchase Vanguard's 500 Index Fund VFINX, within 31 days from the date that I sold LCINX and JNTFX would that invoke the wash sale rule for either the LCINX or the JNTFX transactions?
If I wait over 31 days to purchase VFINX, will I then avoid the wash sale rule regardless of whether LCINX and JNTFX are considered substantially similar to VFINX?
Thank you for your advice.
I recently sold Invesco/AIM Value Equity Fund LCINX and Janus 20 Fund JNTFX. I sold them both at a loss.
If I purchase Vanguard's 500 Index Fund VFINX, within 31 days from the date that I sold LCINX and JNTFX would that invoke the wash sale rule for either the LCINX or the JNTFX transactions?
If I wait over 31 days to purchase VFINX, will I then avoid the wash sale rule regardless of whether LCINX and JNTFX are considered substantially similar to VFINX?
Thank you for your advice.
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