How to evade 30-day rule for taking stock loss for tax purposes?

Question

If I buy a stock (say Apple) at $190, it goes down to $160 and I sell it. To be eligible to take the loss (in tax return), do I have to wait another 30 days before re-buying Apple stock? If yes, then I was thinking how to evade the 30 day rule. Can I sell Apple at $160 to take the loss, but rebuy it in my wife's account at $160 (hoping that it will go up) and I make money while taking the loss as well? Can I still take the loss in tax return even though we file jointly?
thanks!

Answer 1

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Yes.

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No. See the information on "wash sales and related parties" at

http://www.fairmark.com/capgain/wash/wsira.htm

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No.

For more information on the wash sale rule see

http://www.fairmark.com/capgain/wash/index.htm

Answer 2

Why invest the time in this?

The law says that if you "constructively" replace the position you can't take the loss.

Constructively is generally agreed to mean: replacing the position in another account, in your spouses account, using derivatives (buying calls and selling puts or single stock futures), swaps including total return swaps, etc.

Answer 3

If you and your wife file jointly, you still cant' evade it. You are referring to the "Wash-Sale" rule.

You can't evade it.

Christmas Apple is not familiar with the wash sale rule. He's referring to simple capital gain and capital loss activity.