dmertz
Level 15

Retirement tax questions

" If i had taken a loss on my excess contribution instead of making a gain, would that loss then be a deduction in my 2018 taxes (just like it was a taxed gain when i had a gain)?"

 

In the case of an return of excess contribution from an IRA, unfortunately, no.  No box on a Form 1099-R is permitted to contain a negative number.