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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121185  
Subject: Re: Convert Losing IRA to ROTH Date: 2/1/1998 10:20 AM
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[[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.

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Roy

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