I have an IRA with a loss. I didn't sell it when I turned 70, I'm 72 now what should I do?

[fanfare]

change your investment strategy. perhaps to more successful investments.
Your money can resume growing for you.

[Hal_Al · Accepted solution]

Starting in 2018, you can no longer deduct a loss when you cash out an IRA. So, you should base your withdrawal schedule on your needs and Required Minimum distribution (RMD) rules.

Even in the past it was only an itemized deduction, subject to the 2% of AGI threshold. Furthermore, even though you may have a financial loss, people seldom have a tax loss in a Traditional (as opposed to Roth) IRA.  One more thing: you couldn't just count the loss in "an" IRA. You had to consider the money in all your IRAs