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Can capital losses offset Roth IRA conversion?

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Roth conversion income is ordinary income, not capital gains income. Capital losses can offset Roth conversion income only up to $3,000 a year. For example, you can 't use a $100,000 capital loss to offset a $100,000 Roth conversion. It can offset only $3,000, and the rest of the loss is carried over to future years.
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