Wash sale

Sold an ETF in a joint account for a loss. Inadvertently bought same ETF in husband’s IRA and wife’s IRA within 30 days. This is a wash sale and I can’t add the loss to the basis of the replacement security because it’s in an IRA.

I’m assuming that if I bought the same ETF back in the joint account now (it’s still within 30 days) that it’s not a wash sale since the purchases in the IRAs were what created the wash sale. My thinking was if I could buy it back in the joint account I could at least add the loss to the basis of that new purchase in the joint account. But I’m doubting that I can do this.

Just looking for a way to somehow salvage the loss on that original sale since it can’t be added to the basis in the IRA.



Unfortunately, you can’t preempt the IRA purchase as the replacement shares because they were purchased before the second purchase in the joint account.



That’s what I thought was probably the case. Thanks for your reply.



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