melj1
Employee Tax Expert

Get your taxes done using TurboTax

The answer is no. Losses as well as gains are never recognized within an IRA. The only way you can deduct a loss in an IRA is when all the funds from all IRAs are withdrawn, and there must be basis. For an IRA, basis means nondeductible (after-tax) funds, which most traditional IRAs don't have that much of.

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