No. of Recommendations: 0
Money from an IRA conversion is INCOME, not capital gains.

If, in a taxable account, you sold stocks and the result was less than you paid for them, you have a capital loss.

Capital losses offset capital gains dollar for dollar, but once that's used up, you can offset up to $3000 of income. If you still have capital losses left over, you save them for next year.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.