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    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
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    #1

    Jun 13, 2012, 12:08 PM
    Tax Question
    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's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    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's Avatar
    catonsville Posts: 894, Reputation: 91
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    #3

    Jun 13, 2012, 12:13 PM
    Thanks did not think so. Sure have been taking a beating in the IRA Account.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

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