Hello Bogleheads,
I am thinking ahead to this falling market and hoping to take advantage of tax loss harvesting.
In my brokerage, I had been purchasing IVV. About 3 months ago, I switched to buying VOO and have been DCA VOO twice a week. My IVV is significantly in green but VOO is in red already. Obviously, no telling what will happen but I suspect portions of my IVV will drop in red.
1) Can I sell VOO and buy a not significantly similar security to avoid wash sale rule as long as I don’t purchase any more VOO in the next 31 days? Another way of asking, is it a wash sale since I have been buying VOO (as recently as on Friday) because of the “30 days before” rule.
2) If 1) isn’t going to work: Can I sell a portion of the IVV which is in red and not buy any more IVV for 30 days (haven’t bought any in the last 30 days)? I would buy another security, maybe VOO or mutual fund. How do I elect said portion instead of selling the entire IVV?
Thanks in advance
I am thinking ahead to this falling market and hoping to take advantage of tax loss harvesting.
In my brokerage, I had been purchasing IVV. About 3 months ago, I switched to buying VOO and have been DCA VOO twice a week. My IVV is significantly in green but VOO is in red already. Obviously, no telling what will happen but I suspect portions of my IVV will drop in red.
1) Can I sell VOO and buy a not significantly similar security to avoid wash sale rule as long as I don’t purchase any more VOO in the next 31 days? Another way of asking, is it a wash sale since I have been buying VOO (as recently as on Friday) because of the “30 days before” rule.
2) If 1) isn’t going to work: Can I sell a portion of the IVV which is in red and not buy any more IVV for 30 days (haven’t bought any in the last 30 days)? I would buy another security, maybe VOO or mutual fund. How do I elect said portion instead of selling the entire IVV?
Thanks in advance
Statistics: Posted by cookiesncream — Mon Aug 05, 2024 7:33 am — Replies 2 — Views 134
