Prior to 2018 you could Qualify for a Tax Deduction on Schedule A:
- Only in very rare situations can you deduct losses in your Roth IRA account.
- To qualify for the deduction, you must close all of your Roth IRA accounts, including those with profits.
- Your traditional IRAs need not be closed, as they are treated separately.
- The value of your Roth IRA from the previous year or at any point during the time the account was open does not matter
For tax years after 2017, the deduction described is no longer available.
https://www.investopedia.com/articles/retirement/05/012505.asp#:~:text=If%20the%20loss%20occurred%20...
