If your Axos Invest account is invested in the same securities as those you hold in external accounts, trades in your external accounts can cause wash sales and wipe out harvested losses.
To help avoid wash sales, you may want to consider excluding securities that you hold in outside accounts. Axos Invest offers Selective Trading which lets you remove securities from your Axos Invest portfolio. If you remove a security using Selective Trading, the security will be automatically sold in your Axos Invest portfolio, and no further trades will be processed for that security. Please note that trades that result from removing or activating securities may have tax consequences.
Lastly, WiseHarvesting analyzes all of your investment accounts on Axos Invest, including IRAs. If you have an outside taxable account, IRA, 401(k), or 403(b) account, you can do a free transfer or rollover to Axos Invest.
- Dashboard: Check out Tax Protection and its WiseHarvesting feature
- FAQ: Does WiseHarvesting work with my retirement milestone or IRA(s)?
- FAQ: Can I rollover a Qualified Retirement Plan to Axos Invest? (401(k), 403(b), profit sharing, etc)