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Due to lack of proper understanding, I know I made a very big mistake last year when I converted my traditional IRA to a ROTH. I'm posting this to see if I can get some suggestions to at least make things easier for me. I received a tax info from my broker showing a taxable distribution of $89,000. This figure I believe represents the amount that I converted. Here's my main problem, I invested the converted amount in stocks which unfortunately did not do good because my total equity is now down to almost 1/3 of the original amount. What advice can anyone give me on this? Can I claim investment losses to offset some of my tax liabilities? This certainly is a hard lesson to learn and I appreciate any input.
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