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catonsville
Jun 13, 2012, 12:08 PM
If I have a Stock in a IRA and a Regular Stock. I sell both one for a gain and the other for a loss, can I put the loss against the gain? Or am I not able to play one against the other to cut my gain for tax purposes?

ebaines
Jun 13, 2012, 12:11 PM
Gains and losses that occur inside an IRA are not reported, so no - you cannot use a loss in a tax-deferred account (IRA) to offset a gain in a taxable account.

catonsville
Jun 13, 2012, 12:13 PM
Thanks did not think so. Sure have been taking a beating in the IRA Account.

AtlantaTaxExpert
Jun 13, 2012, 01:52 PM
Unfortunately, that IS one of the drawbacks of the IRA.