Tax Loss and Tax Gain Harvesting, Roth 401K Rules, Federal and State Tax Withholdings - Mailbag

The Retirement Show: Your Life, Your Money with Scott Sierens

We’re sharing this month’s mailbag episode a bit early, but we have 3 great listener questions lined up for today’s show! Miyuki asks if Scott can explain more about tax harvesting and how to take advantage of a stock loss. Lauren asks about the tax consequences of withdrawing from the Roth side of her 401(k) after 2023. Click play to see what you can learn!

Here are the questions we discuss in this episode:

• Can you explain more about tax harvesting? I sold two individual stocks last month. Both are a loss, but I don’t know how I can take advantage of this loss.
• I was just laid off. I am past full retirement age and the Roth side of my 401k hits 5 years on the 1st of 2024. Can I withdrawal from the Roth 401K side without tax consequences after 2023?
• The 401k plan has pre-tax and post-tax (Roth). Is withholding required on post-tax Roth 401k money?

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