Earlier I was advised I could take a loss deduction if I withdrew the entire traditional IRA. I just read it must only be my basis which is the total amount of the nondeductible contributions in my traditional IRA. The monies that were lost drained the account almost to $0 but they were funds that were rolled in from an active employer 401k. Does that make this ineligible for a loss deduction? The amount was ~ $95,500. Thanks!
