So I recently started getting back into being more involved in my investments. I'm 36 years old and one thing I was reading today was regarding not keeping the same fund in both a taxable and tax deferred account. They explained that down the line it can cause a wash sale if I were to sell from one of the accounts. Anyways, I am one who likes simplicity in my investing, so I use a single fund approach of FSKAX(Fidelity total market fund) across both my Roth IRA and my Traditional IRA along with my taxable account. I don't completely understand what a wash sale is, but I'm wondering if A) is this a real issue that I need to be concerned with down the line and B) if it is a real issue, how to I go about resolving it? Can I sell my FSKAX in my taxable account and buy something like FXAIX? Would this then cause a wash sale? What are the implications of that, if that's the case? Just really looking for advice of how to proceed
Statistics: Posted by mukky — Sat Nov 16, 2024 9:00 pm — Replies 5 — Views 297