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URL:  http://boards.fool.com/i-have-a-non-deductable-ira-from-a-previous-year-10095292.aspx

Subject:  Re: Convert Losing IRA to ROTH Date:  2/1/1998  10:20 AM
Author:  TMFTaxes Number:  1660 of 121061

[[I have a Non-Deductable IRA from a previous year that is down 40% from original investment. If i
were to convert that to a Roth could I use the loss to offset other's with a gain?]]

Nope. Sorry. The loss would stay with the IRA. You would simply have less money to convert to your Roth IRA. And remember, on conversion, ALL individual IRAs are treated as one. So if your have multiple separate regular IRAs, some with gains, and some with losses, you can NOT pick and chose those that you want to convert.

For additional information, check out IRS Publication 590 at the IRS web site.

TMF Taxes
Roy

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