The IRS released Revenue Procedure 2023-35 Friday, stating that redemptions of money market fund shares won’t “be treated as part of a wash sale under § 1091 of the Internal Revenue Code.”
The guidance extends the agency’s wash sale relief to “redemptions of shares in MMFs that maintain fixed share prices,” and “amplifies Revenue Procedure 2014-45,” according to an IRS release.
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.