Rotj conversion
I had a private bank stock who value kept going down so I sold at a extreme loss. Can I use the loss to offset a conversion of IRA to Roth IRA?
I had a private bank stock who value kept going down so I sold at a extreme loss. Can I use the loss to offset a conversion of IRA to Roth IRA?
Permalink Submitted by Alan - IRA critic on Wed, 2014-11-26 15:50
Assuming the bank stock was in a taxable account, the most conversion income that could be offset is the cap gains limit of 3,000. If you have other gains, the loss could also offset the other gains, but once the other gains are offset, an additional 3,000 is the limit.