Solved: Can I deduct Roth IRA investment losses? For instance, I added $20,000 to a Roth IRA, and if I cash it out, it's now only worth $7,000 - $13,000 less than what I invested
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
diana-skoy
New Member

Can I deduct Roth IRA investment losses? For instance, I added $20,000 to a Roth IRA, and if I cash it out, it's now only worth $7,000 - $13,000 less than what I invested

 
1 Best answer

Accepted Solutions
PaulaM
Employee Tax Expert

Can I deduct Roth IRA investment losses? For instance, I added $20,000 to a Roth IRA, and if I cash it out, it's now only worth $7,000 - $13,000 less than what I invested

Deducting Roth IRA losses is a complicated endeavor with some qualifying events. See article below.

https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/Are-Losses-on-a-Roth-IRA-Tax-De...

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PaulaM
Employee Tax Expert

Can I deduct Roth IRA investment losses? For instance, I added $20,000 to a Roth IRA, and if I cash it out, it's now only worth $7,000 - $13,000 less than what I invested

Deducting Roth IRA losses is a complicated endeavor with some qualifying events. See article below.

https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/Are-Losses-on-a-Roth-IRA-Tax-De...

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings