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wdettlaf
New Member

I have an asset in a self directed IRA that is now worthless. How can I remove it from my total value of all Traditional IRA's?

 
2 Replies
macuser_22
Level 15

I have an asset in a self directed IRA that is now worthless. How can I remove it from my total value of all Traditional IRA's?

Your IRA year end statement form the financial institution should reflect the year end value of that IRA account.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
dmertz
Level 15

I have an asset in a self directed IRA that is now worthless. How can I remove it from my total value of all Traditional IRA's?

Investments in self-directed IRAs becoming worthless seems to be a relatively common occurrence.  The IRA custodian will continue to report the original value until they accept an independent appraisal of the asset to change that value.

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