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You buy an equivalent ETF. So sell your VTI and buy SCHB. It's a different stock ticker!
by novok 5y ago
You buy an equivalent ETF. So sell your VTI and buy SCHB. It's a different stock ticker!
- ryandrake 5y agoWash sale rule applies to identical or "Substantially Identical" securities [1]. IRS is a bit vague in its definition, and you may have to argue that the new security is not Substantially Identical. Your example are two different indexes and two different companies, so it might be fine. 1: https://www.investopedia.com/terms/s/substantiallyidenticalsecurity.asp https://www.investopedia.com/terms/s/substantiallyidenticals...
- novok 5y agoA large amount of tax loss harvesting automation services work on the principle I just described, I even used one for a while. You have to tell them which funds you already own elsewhere so they wont trigger that wash sale rule inadvertently, or move all your stock funds to them. For something like VTI, you have about 4 other companies that have a similar product you can execute it with. Schwab, Fidelity, iShares, SPDR. Other major banks probably also have them, but they're usually not as popular.