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401k to IRA write-offs??

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S

SVG

Guest
I'm in California. Hello. This past year I changed jobs and converted my 401k to IRA. Now, over the last couple years, my 401k has suffered and I lost a descent amount of money. Are there any write-offs, deductions or whatever, that I can claim this year since that money is lost? Thanks for any information.
 


abezon

Senior Member
The difference is that money in your 401k was never taxed, so your taxable basis is $0. Therefore you cannot have a loss.
 
S

SVG

Guest
So...let's say I dump the untaxed 401k money into a IRA(and then buy stocks) and the stocks bottom out. No write-off again? Thanks
 

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