I am living, studying/working, investing mutual funds, and paying taxes in U.S.. I have a mutual fund and I have accumulated about 10k loss on it in both my margin account and Roth IRA account. If I sell the fund now, can I use the losses to offset my income taxes in the following years?
Is there a limit on the amount of loss that I can claim to offset my tax each year?
Is there a limit on the number of following years during which I can claim the loss I realize this year? For example, after five years, I won't be able to claim any loss I realize this year, even if I haven't claimed all of my loss to offset my taxes.
For the part of the fund in my Roth IRA account, will there be some cost to me for selling the fund and taking all the money out of the account?