I am trustee for an irrevocable trust for my mother with dementia. The trust was created as part of medicaid planning for her. I and my brother are the beneficiaries of the trust (upon her death), and during her lifetime, she is only entitled to the income generated by the Trust (ie, dividends, etc). The Trust is held through Vanguard, and I can manage investments through logging on to my own Vanguard portal.
If the Trust has VTSAX in it, and I also have VTSAX (or VTI) in my own personal accounts, if I try to tax loss harvest the VTSAX/VTI, if the same fund in this Trust has a reinvestment or purchase, would that result in a wash sale for me and my personal accounts? I've been debating whether to try and change all VTI/VTSAX in my non-taxable accounts to be able to harvest any VTI losses, but would that need to include this Trust account too?
If the Trust has VTSAX in it, and I also have VTSAX (or VTI) in my own personal accounts, if I try to tax loss harvest the VTSAX/VTI, if the same fund in this Trust has a reinvestment or purchase, would that result in a wash sale for me and my personal accounts? I've been debating whether to try and change all VTI/VTSAX in my non-taxable accounts to be able to harvest any VTI losses, but would that need to include this Trust account too?
Comment