Hello,
I have a situation I need to address in my Roth IRA.
One company I invested in (long term) is nearly a total loss, and could go bankrupt at any time.
I have other small holdings in the Roth, long term.
However, I have a short term holding which was for 7k, max for the year allowed, but now down 2500 on that one as well.
Everything I've read says I have to liquidate the Roth completely in order to take the tax deduction. I could also benefit from a couple more years of tax harvesting.
I guess I'm willing to lose the $2500 short term loss to benefit from the long term losses, especially on the one stock that could liquidate at any time. As it stands today, I'm still able to trade it.
Am I correct in saying I can liquidate my Roth and claim it as described above?
Can I still hold my traditional IRA that I would not close and still do this, or do I have to liquidate ALL my IRA's?
Thanks for advice.
