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Can I write off a stock sale gain from an inherited IRA (short term) against a long term stock sale loss in a different Rollover IRA?

both transactions are done in the current 2023 TY
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3 Replies
rjs
Level 15
Level 15

Can I write off a stock sale gain from an inherited IRA (short term) against a long term stock sale loss in a different Rollover IRA?

Capital gains and losses in IRAs are not reported on your tax return. You do not pay tax on the gain from a sale in an IRA. Money in an IRA is only taxed when you take it out of the IRA, and then it is ordinary income, not capital gain.

 

Can I write off a stock sale gain from an inherited IRA (short term) against a long term stock sale loss in a different Rollover IRA?

Thank you so much for your reply!  You saved me a lot of time researching on the internet.

Can I write off a stock sale gain from an inherited IRA (short term) against a long term stock sale loss in a different Rollover IRA?

Your inherited IRA must remain completely separated from your own Traditional IRAs.

 

@taxation-100000 

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