I'm considering making a an early withdrawal from my 401k and understanding the tax implications (tax at marginal rate and 10% penalty). The question I have is this:I have a capital loss carry over from the previous year. Can I deduct that capital gains my 401k withdrawal from the capital loss? If so, my capital loss is greater than the amount I wish to withdraw from my 401k. Therefore, I would only have to pay the 10% penalty.Thx.
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