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I moved some funds from my company 401k into a Brokerage account to buy some individual stocks.. If I sell some of them for a lose can I use that on my taxes this year?

Forum|Forum|2 years ago
December 22, 2023
2 replies
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Best answer by DoninGA

Since the brokerage is within the 401(k) then there was not a withdrawal or distribution. Gain or losses from the sale of stocks within the 401(k) are not reported on a tax return.

Employee

Is the brokerage account still in the 401K? Or did you take a 401K distribution? Or roll it into a IRA Brokerage account?

Yeah the Brokerage account is still attached to my company 401k and I haven’t retired yet..

Employee

Since the brokerage is within the 401(k) then there was not a withdrawal or distribution. Gain or losses from the sale of stocks within the 401(k) are not reported on a tax return.

Employee

The withdrawal of funds from the 401(k) will be taxable on your 2023 tax return.

The investment you sold for a loss in 2023 will be reported on the 2023 tax return as a capital loss.