From: "W. Wells" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Tax writeoffs?
Date: Tue, 20 Nov 2007 11:04:09 -0600
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I have to take my RMD . That is the reason I am selling the IRA.

"joetaxpayer"  wrote in message 
news:YdSdnUrsroS6dd_anZ2dnUVZ_uuqnZ2d@comcast.com...
> W. Wells wrote:
>> Can I balance off a stock loss sale  this year  against   taxes due on a 
>> conventional IRA sale?
>
> Stock losses are first offset against gains, if you still have a net loss, 
> up to $3K may be taken against ordinary income.
>
> A sale within an IRA is not a taxable event. An IRA withdrawal is 
> considered ordinary income as far as tax rates are concerned. Are you over 
> 59-1/2? Why not just take that stock loss against regular 'earned' income? 
> If you don't need the IRA money and are already in a low bracket, consider 
> converting it to a Roth IRA.
>
> JOE
> www.joetaxpayer.com
>