I've been trying to clean up / optimize holdings as I learn more, and I had about 10k in a bond ETF in my taxable account. I learned that those are better held in tax advantaged accounts, and thought maybe I would move them that direction and practice some tax loss harvesting.
So I sold about 3k worth, and started the clock to wait before buying that same fund in an IRA. Never even thought about the fact that I automatically buy more shares via dividend reinvestment![:oops:]( "D'oh")
So my question is, since the sale was big and the buy was small do I still get tax loss credit for the majority of shares sold, with only the amount of shares "rebought" considered a wash? Or is the whole amount of shares considered a wash now? And will Schwab sort this out for me at tax time or do I need to record or document this somehow on my own?
Trying to limit the amount of "dumb tax" I pay as I learn more, so thanks for any enlightenment you can provide.
So I sold about 3k worth, and started the clock to wait before buying that same fund in an IRA. Never even thought about the fact that I automatically buy more shares via dividend reinvestment
So my question is, since the sale was big and the buy was small do I still get tax loss credit for the majority of shares sold, with only the amount of shares "rebought" considered a wash? Or is the whole amount of shares considered a wash now? And will Schwab sort this out for me at tax time or do I need to record or document this somehow on my own?
Trying to limit the amount of "dumb tax" I pay as I learn more, so thanks for any enlightenment you can provide.
Statistics: Posted by Procrastin8er — Mon Oct 28, 2024 7:19 pm — Replies 3 — Views 246