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Subject:  Can I use a capital loss to offset Roth tax? Date:  11/11/2003  3:57 PM
Author:  andy2003 Number:  37768 of 88033

I just took a long-term capital loss on some old tech stock, and I have approx. $9k in a traditional IRA that I'd like to convert to a Roth. I'm in the 27% tax bracket so my conversion taxes would be ~$2430. Can I use the capital loss to offset those taxes, or can capital losses only be used to offset capital gains?
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