Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
You can't shelter the capital gain from sale of stock in your taxable account with a loss recognized in your IRA. If you want to sell F to lock in the economic gain, and you haven't sold any shares yet, then whatever you do will not impact your 2012 taxes. So, even if the loss in IQNT were in your taxable account, selling F would not result in an offsetting gain transaction in 2012.

If you decide to sell F in 2013, you can offset the capital gain with capital losses either (1) recognized from sale of stock in your taxable account at a loss in 2013, or (2)carried forward from a prior tax year, if you previously sold shares at a loss in your taxable account and did not either use them to offset captial gain or shelter up to 3,000 of ordinary income in a prior year.

If you plan to sell shares to recognize a capital loss in your taxable account 2013, you will not be able to use the loss if you buy the same shares back in the wash sale period, in either the taxable account or the IRA.
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.