Message Font: Serif | Sans-Serif
No. of Recommendations: 0

I have a similar question asked in the original post of this thread. I opened a Roth IRA for 2000, and bought WCOM.

Since I bought it this year in this year's IRA, can I withdraw the money and claim the loss? Sort of close the IRA and hopefully not need to pay the 10% penalty.

I think WCOM isn't going far in the next month, and I have a lot of capital gains in taxable accounts (mostly long term from some mutual funds I own). If I sold it, I think I could buy it back at a similar price in a month, or even look for a different stock.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.