Locate a Revenue Ruling that answers the question If an individual sells stock at a loss and causes his Roth IRA to purchase substantially identical stock within 30 days, is the loss on the sale of the stock disallowed, Provide a proper citation for the Revenue Ruling and indicate its holding.

Answer rating: 100% (QA)

The washsale rule is an Internal Revenue Service IRS regulation that prevents a taxpayer from taking a tax deduction for a security sold in a wash sale The rule defines a wash sale as one that occurs ... View the full answer