IRA Distribution / Rollover to Roth IRA - can it offset regular Investment losses

[JHW]

Last year I had $63,000 in short-term capital losses in my regular investment account.  I now have a carry forward loss of $60,000 to offset any future short term gains.  I'm currently 60 YOA.  I have an IRA, 401K and a small Roth IRA.  Is it possible for me to rollover $60,000 from my traditional IRA into my Roth account and use the carryforward losses from my regular investment account to offset any taxes?  Also, would I have to wait until I'm 62 or could I do it this year. 

[VolvoGirl]

Sorry no.  That won't use up any of your investment loss carryover.  IRA distributions are taxed as ordinary income and not as investment and don't get capital gains treatment.  That is one of the disadvantages of IRA accounts.