My wife retired from teaching in 4Q19 and a sum of money (not her primary pension but a parting bonus) was placed into a Ohio 457 account she was told to create by her school system. In 1Q20, those funds were transferred to a IRA established in her name at a large broker at the guidance of our wealth advisor.
My question: Between the initial 4Q19 deposit into the 457 account until the time of transfer to the IRA in 2020, the account lost approximately $700 in value. Where, if anywhere, is that recorded in our 2020 taxes? If not in our 2020 taxes, can the loss ever be recorded? The only place that loss is displayed is on her 1Q20 457 statement, not in any 1099-xxxx or other document.
Thanks in advance
Nick
