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T
taxation-100000
December 26, 2023
Question

Can I write off a stock sale gain from an inherited IRA (short term) against a long term stock sale loss in a different Rollover IRA?

  • December 26, 2023
  • 1 reply
  • 0 views
both transactions are done in the current 2023 TY

1 reply

rjs
rjs
Employee
December 26, 2023

Capital gains and losses in IRAs are not reported on your tax return. You do not pay tax on the gain from a sale in an IRA. Money in an IRA is only taxed when you take it out of the IRA, and then it is ordinary income, not capital gain.

 

    T
    taxation-100000Author
    December 28, 2023

    Thank you so much for your reply!  You saved me a lot of time researching on the internet.

    fanfare
    fanfare
    Employee
    December 31, 2023

    Your inherited IRA must remain completely separated from your own Traditional IRAs.

     

    @taxation-100000 

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