Can I use my capital loss carryover to off set my 1099R withdraw

posted

Connect with an expert

1 Best answer

Accepted Solutions

Can I use my capital loss carryover to off set my 1099R withdraw

A 1099-R withdrawal is treated as ordinary income, not as a capital gain. Only $3,000 of capital loss carryover can be used to offset ordinary income.

View solution in original post

1 Reply

Can I use my capital loss carryover to off set my 1099R withdraw

A 1099-R withdrawal is treated as ordinary income, not as a capital gain. Only $3,000 of capital loss carryover can be used to offset ordinary income.