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#1
02-03-2004, 06:01 AM
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 Re: capital loss on inherited IRA Eric wrote: - quote - > I inherited an IRA from my mother several years ago. This
No "gain or loss" is recognized in an IRA.> year (2004), I took my minimum distribution (around $5000). > My broker rolled over assets from the IRA into my trading > account. Now, when I look at my trading account, I see the > assets with the original purchase date and an unrealized > loss of $15000. Does this seem correct ? I didn't think I > could take the loss, should I now sell the asset out of my > trading account...Any Comment ? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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01-28-2004, 11:14 PM
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| Re: capital loss on inherited IRA Eric.Shugart[at]mmoh.com (Eric) writes: - quote - > I inherited an IRA from my mother several years ago. This
Was this assets worth $5000? IOW, did you take the> year (2004), I took my minimum distribution (around $5000). > My broker rolled over assets from the IRA into my trading > account. distribution as a transfer to your regular investment account? (Not a problem, BTW) If this transfer was in addition to the $5,000, you had more than a $5,000 distribution. - quote - > Now, when I look at my trading account, I see the
It may or may not be, but it's irrelevant to you. If stocks> assets with the original purchase date and an unrealized > loss of $15000. Does this seem correct ? were transferred from the IRA to your regular account, your holding period begins on the date of the transfer and your basis is the value as of the date of transfer. Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
01-28-2004, 05:26 PM
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| capital loss on inherited IRA I inherited an IRA from my mother several years ago. This year (2004), I took my minimum distribution (around $5000). My broker rolled over assets from the IRA into my trading account. Now, when I look at my trading account, I see the assets with the original purchase date and an unrealized loss of $15000. Does this seem correct ? I didn't think I could take the loss, should I now sell the asset out of my trading account...Any Comment ? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| capital, inherited, ira, loss |
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