Tax Law (Questions About Taxes)/net capital loss


Can a person deduct a net capital loss (up to the $3000/year limit) from income from traditional IRA distributions?   In other words I don't have any earned income just pension, traditional IRA and social security and i didn't know if the net capital loss can only be taken off earned income

no.. that is the deal with IRA...  you get to avoid cap gain and income until withdrawl, but you dont get to realize cap losses...

few special rules on stuff like employer stock held (Net unrealized appreciation) could get you to at least even basis not loss.. which would help.  but that only applies if you held employer stock in your 401k

also, in year of contribution, you can "undo" a contribution if losses are beyond your original deposit..  

but, generally, no  

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).


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