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Archived [ARCHIVED THREAD] - Tax question. Traditional to Roth IRA conversion
Posted: 12/9/2014 7:07:29 PM EDT
I understand that converting from traditional to Roth 'creates' taxable income.

Can I offset that 'income' with capital losses from this year and capital loss carry overs from previous years?

Link Posted: 12/16/2014 1:38:38 AM EDT
[#1]
I believe that you have ordinary income upon conversion, not cap gain.  Therefore, you would only be able to offset $3,000 of capital loss against it.

Link Posted: 12/17/2014 5:35:23 PM EDT
[#2]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I believe that you have ordinary income upon conversion, not cap gain.  Therefore, you would only be able to offset $3,000 of capital loss against it.
View Quote

above is correct.

Archived [ARCHIVED THREAD] - Tax question. Traditional to Roth IRA conversion
Page General » Business & Investing
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