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Location: Living near our Nation's Capitol since 2010
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I am not an experienced investor, but since I do have several IRAs, I have been watching them. I have one biotech stock that has lost a fair amount of money over the past several years. My question is this, since it is in a ROTH IRA, if I sell it and take the loss so that I can re-invest it in something with more profit potential, can I write off the loss on taxes? Or is it simply a loss.
Can anyone help with the answer? I would be so grateful for info.
I am not an experienced investor, but since I do have several IRAs, I have been watching them. I have one biotech stock that has lost a fair amount of money over the past several years. My question is this, since it is in a ROTH IRA, if I sell it and take the loss so that I can re-invest it in something with more profit potential, can I write off the loss on taxes? Or is it simply a loss.
Can anyone help with the answer? I would be so grateful for info.
the issue presented here is that inexperienced investors should not be buying individual stocks . i recommend only diversified funds with no individual company risk .
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