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New Member
posted Dec 26, 2022 9:11:36 AM

Can I write off stock losses from individual brokerage account against distribution from a simple ira?

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2 Replies
Level 15
Dec 26, 2022 9:26:13 AM

The capital loss from your stock sale will first be offset by any capital gain. Any unused loss is then deducted from regular income which includes your IRA distribution to a maximum amount of $3,000.  Any loss left is carried over to subsequent years. 

Level 15
Dec 29, 2022 6:58:40 AM

Q. Can I write off stock losses from individual brokerage account against distribution from a simple IRA?

A.  No, at least, not directly. 

 

Capital losses, up to $3000, can be deducted against other ordinary income, including taxable retirement account distributions, including IRAs.