Wash sale question

[marko]

I think I know the answer but here goes:

Bought a fund 10 years ago at $13.22.
Sold a piece of it last week for $ 12.54
It is now at $12.88

1) If I bought it back now is that considered a wash sale.? I think so. Even if my new buy price is more than my sell price. It's all about the original basis, isn't it?
2) If it went to $13.23 and I bought it is that not a wash sale? I think that's allowed.

Both scenarios assume under 30 days.

 

[SecondCor521]

I think I know the answer but here goes:

Bought a fund 10 years ago at $13.22.
Sold a piece of it last week for $ 12.54
It is now at $12.88

1) If I bought it back now is that considered a wash sale.? I think so. Even if my new buy price is more than my sell price. It's all about the original basis, isn't it?
2) If it went to $13.23 and I bought it is that not a wash sale? I think that's allowed.

Both scenarios assume under 30 days.

1. Yes, it would be a wash sale because you sold at a loss less than 30 days ago.
2. It's allowed, but it is still a wash sale because you sold at a loss less than 30 days ago.

The only way to avoid a wash sale is to both:

a. Wait 30 days from when you sold a piece of it at a loss (so another 23 days or so from today), and
b. Don't sell any more shares at a loss 30 days after the subsequent buy (so another 53 days or so from today).

BTW, wash sales are always allowed - it's just that some of the realized capital loss might be deferred or lost.

 

[SunGuy]

https://www.fidelity.com/learning-center/personal-finance/wash-sales-rules-tax

 

[ownyourfuture]

Since this is a wash sale question, & this related thread is the only one I can find that doesn't have the 'old thread warning' @ the bottom, I figured it would be OK to ask my question here.

I have 2 food stocks with losses in my HSA account.
Conagra & B&G Foods.
I own those same 2 in my IRA (set to reinvest dividends)

Next payment dates.
Conagra: 02/29/2024
B&G: 01/30/2024

I own ConAgra in a taxable account, but take the dividends in cash there.

If I sell those 2 at a loss (HSA) today or tomorrow January 22 or 23rd,
Will the fact that I'll be buying B&G shares in the IRA approximately 8 days from today be an issue ?

Thanks in advance.

 

[FLSUnFIRE]

No. There is no taxable loss in an HSA and therefore no wash. If you had a loss in your taxable account and then bought in any account then the wash rule would apply.

 

[ownyourfuture]

No. There is no taxable loss in an HSA and therefore no wash. If you had a loss in your taxable account and then bought in any account then the wash rule would apply.

Thank you!