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How can I offset taxes when I convert to a Roth IRA?

Source: marketwatch.com - Jul 14, 2017

Q.: Dear Dan, I enjoyed reading your Roth article, it got me really thinking about my own situation. I would like to do a 401(k) to Roth IRA conversion. If I do it, can I offset the tax owed using any accumulated long-term capital loss carry over from previous tax years?

Thank you, DK

A.: Glad you liked that, DK. A loss carryforward may help offset the taxes on a conversion a little, but only a little.

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Category: General Business