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" it sounds like I can just take 27% of the loss off the top of my income..." Andy2003

If your capital loss was $11,111.11, the answer is yes. If the loss was anything else, the answer is no. Try it, 27% of $11,111.11 is $3000. You will take $3000 of the loss off of your income this tax year.

You will take $3000 of the capital loss off on line 13. You will show the $9000 Roth roll-over on line 15a. The difference of $6000 will be the net added to your taxable income from both transactions. If you are in the 27% bracket, you will owe $1620 in additional tax.

If your capital loss was more than $9000 but less than $12,000, you will get it all back in tax savings in three more tax years at $3000 each year.

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