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Level 2
posted Jun 4, 2019 8:56:11 PM

If I sold a stock in 2018 within my IRA at a loss, when can I take the deduction?

I also closed my account in Jan. 2019 with the brokerage firm and took my IRA distribution at that time.  Will I have to wait until next year to claim the loss or is it figured in to my distribution?

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1 Best answer
Level 15
Jun 4, 2019 8:56:13 PM

Never.  Gains or losses within an IRA only raise or lower the value of the IRA and are not reportable.  Only actual distributions are reportable.

1 Replies
Level 15
Jun 4, 2019 8:56:13 PM

Never.  Gains or losses within an IRA only raise or lower the value of the IRA and are not reportable.  Only actual distributions are reportable.