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Author: mweinbach Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Big losses in IRA... can I use them? Date: 10/22/2001 6:12 PM
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During the tech run up of the late 90s it seemed so easy to pick a stock a flip it less than a year later for a healthy gain. My IRA account grew from $45k to close to $100k over that period.

Then things changed... today my IRA account sits at a measely $10k. I am embarrassed to say that my gains (non-tech long term investing) has been in my taxable accounts and my losses have been in my IRA.

So, clearly I am an idiot... but is there anyway that I can offset my taxable gains with my IRA losses? Are there any tricks of the trade that I don't know about (no pun intended)?

Thanks in advance for any info!
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Author: Charlie48K Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32287 of 75383
Subject: Re: Big losses in IRA... can I use them? Date: 10/22/2001 6:37 PM
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During the tech run up of the late 90s it seemed so easy to pick a stock a flip it less than a year later for a healthy gain. My IRA account grew from $45k to close to $100k over that period.

Then things changed... today my IRA account sits at a measely $10k. I am embarrassed to say that my gains (non-tech long term investing) has been in my taxable accounts and my losses have been in my IRA.

So, clearly I am an idiot... but is there anyway that I can offset my taxable gains with my IRA losses? Are there any tricks of the trade that I don't know about (no pun intended)?

Thanks in advance for any info!


No. There are some rare instances where a loss in an IRA can be used, but they don't apply here. If there were any that could be applied, I'd use them myself.

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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32290 of 75383
Subject: Re: Big losses in IRA... can I use them? Date: 10/22/2001 7:05 PM
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If it was a deductible IRA account, you may take some consolation in the fact the IRS never got their hands on that money.
If it was not deductible, traditional IRA, you have a cost basis, and you can hope that by the time you take money out you will be back to at least that basis.
Best wishes, and my sympathy. Chris

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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32295 of 75383
Subject: Re: Big losses in IRA... can I use them? Date: 10/23/2001 11:27 AM
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During the tech run up of the late 90s it seemed so easy to pick a stock a flip it less than a year later for a healthy gain.
You poor fellow. At least now you know better, and it only cost you $90,000. Some people pay a lot more tuition at the school of hard knocks.

If it was a Roth IRA...you lose.

If it was a traditional IRA, and you wanted to convert it to a Roth but were afraid of the tax hit, well, now the tax hit is a bit lower.

That's why some people recommend.

So, clearly I am an idiot...
That's not clear at all. What's clear is that you made idiotic decisions in the past. If you recognize what led you to make those decisions, you stand a better chance of avoiding those same decisions in the future.

Rule of thumb for investing: If it seems easy to make money, things are about to change drastically, and faster than you can react.

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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32296 of 75383
Subject: Re: Big losses in IRA... can I use them? Date: 10/23/2001 11:29 AM
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Sorry, that should read

"That's why some people recommend putting bonds and other guaranteed investments into your IRA."

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