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p-desmins
Level 1
December 26, 2022
Question

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

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2 replies

Level 15
Bsch4477Level 15
Level 15
December 26, 2022

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. 

    Hal_Al
    Level 15
    Hal_AlLevel 15
    Level 15
    December 29, 2022

    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. 

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