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I closed m Roth IRA and took a loss, do I need to report it?

 
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2 Replies
DanielV01
Expert Alumni

I closed m Roth IRA and took a loss, do I need to report it?

You will need to report the distribution.  It shouldn't be taxable if you did not recover your basis.  But the distribution is reported on a 1099-R, and that needs to be reported.  When asked about the Roth distribution, make sure you enter the amount of the contributions you made to it after tax before 2018.

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I closed m Roth IRA and took a loss, do I need to report it?

It was only open for 3 months, mid October to mid December.

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