Wash Sales Rule- using multiple brokerages?

Does the Wash Sales Rule apply if:





The purchases and sales were made with 2 different firms?


Scenario-


Buy XYZ on 7/1 using Fidelity.


Sell XYZ on 7/3 at a loss using Fidelity.





Buy XYZ on 7/2 using Tradestation.


Sell XYZ on 7/5 using Tradestation.





I understand that your loss may be disallowed if a person/entity related to you make a purchase (for example an IRA).





However aren't the shares specifically identified because they are held within two different accounts with two different firms?Wash Sales Rule- using multiple brokerages?
The shares being identified doesn't change the law. It doesn't matter where your trade. If you bought stock somewhere within 30 days, your loss cannot be recognized. The law recently changed requiring brokerage firms to report cost basis data on stocks to the IRS. I am not sure of the start date, but I think it is in effect now for 2009 tax reporting. This will make for more accurate tax reporting hence forth.Wash Sales Rule- using multiple brokerages?
still disallowed. The wash sale rule is ultimately your responsibiliy. using different firms simply makes it completely your fault when you get caught.

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