Tax loss harvest of IWF Russell 1000 Growth ETF

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justsomeguy2018
Posts: 143
Joined: Wed Oct 03, 2018 8:11 pm

Tax loss harvest of IWF Russell 1000 Growth ETF

Post by justsomeguy2018 » Tue Nov 20, 2018 3:31 pm

Hello,

I just sold my position in IWF (Russell 1000 Growth) for a loss of $90.

Any ideas what the IRS would consider a "substantially identical" investment for wash sale purposes?

Over the prior 30 days I've bought some portions of total stock, mid cap, extended fund, etc across multiple personal and spousal accounts (taxable, roth ira, hsa etc). But have not bought any other Russell 1000 Growth funds to my knowledge. Should I be ok to claim this as a capital loss?

Silk McCue
Posts: 1449
Joined: Thu Feb 25, 2016 7:11 pm

Re: Tax loss harvest of IWF Russell 1000 Growth ETF

Post by Silk McCue » Tue Nov 20, 2018 4:10 pm

First opinion. Consider others. Since R1000 is large cap you look clean to me based upon what you shared.

Cheers

MotoTrojan
Posts: 2580
Joined: Wed Feb 01, 2017 8:39 pm

Re: Tax loss harvest of IWF Russell 1000 Growth ETF

Post by MotoTrojan » Tue Nov 20, 2018 4:15 pm

IMHO you are fine as long as your replacement doesn’t follow tbe russell 1000 growth index. S&P500 growth, large cap growth for CRSP index, etc would all be totally fine. Total US as well, if you wanted to move your AA towards that or any other finds mentioned.

justsomeguy2018
Posts: 143
Joined: Wed Oct 03, 2018 8:11 pm

Re: Tax loss harvest of IWF Russell 1000 Growth ETF

Post by justsomeguy2018 » Tue Nov 20, 2018 9:08 pm

Thanks.

I thought I'd harvest the losses now because if I want to I can buy it again commission free thru Fidelity later vs the $6.95 fee I paid to buy it and sell it. So essentially I'm getting a 24% discount on the commission trading fees as well. Hopefully that makes sense.

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