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Author: eggster Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76395  
Subject: deduct loss? Date: 6/3/2001 6:50 PM
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If you sell a mutual fund (in a regular IRA account) that has a capital LOSS, and use the remainder to by a new fund, can you deduct the loss from your income tax - now.

eggster
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Author: Mark0Young Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 30047 of 76395
Subject: Re: deduct loss? Date: 6/3/2001 10:09 PM
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If you sell a mutual fund (in a regular IRA account) that has a capital LOSS, and use the remainder to by a new fund, can you deduct the loss from your income tax - now.

No, as long as the money is within the IRA account there are no tax consequences, neither capital gains nor capital losses.



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