|
|
| *Loan,banking and credit>>>income tax |
Can I use my capital losses ( stock losses) to offset oweing income taxes on rolling an IRA to a ROTH IRA ? |
Can I use my capital losses ( stock losses) to offset oweing income taxes on rolling an IRA to a ROTH IRA ? Only can use up to $3000 against any type of income. If more than that remember to buy mutual funds in dec next year & use that cap gain to offset your loss. Source(s): degree in Finance + 27 yrs investing your stock losses will lower your adjusted income which in turn will save you some money from the roll over. Capital losses can only be used to offset capital gains. If you have a net capital loss for the year, you can only deduct $3,000 of it. Any residual loss after deducting the $3,000 is carried over to future years. No. They are two different items. Capital losses can only offset ordinary income up to $3000. An IRA conversion is considered ordinary income. |
| Tags |
| tax software tax table tax tips tax year income tax business tax car tax child tax cigarette tax corporate tax |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |