IRA distribution

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  • arlo
    Senior Member
    • Feb 2008
    • 285
    #1

    IRA distribution

    Need help. Have client that wants to convert an IRA to Roth and has a Schedule C loss
    to offset the tax liability. Client has been self employed for several year.
    Do you see any problem.
    Tags: None
    • JohnH
      Senior Member
      • Apr 2007
      • 5339
      #2
      It might be a smart move, especially if the loss pulls him into the 15% marginal bracket (or below).
      "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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        • Gretel
          Senior Member
          • Jun 2005
          • 4008
          #3
          The only problem I would see if the loss is a questionable loss (several loss years) and couldn't be sustained in an audit.

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