I lost $30,000 dollars in 2018 in my 401K on monies invested prior to 2018 that were pre-taxed dollars. Is this loss tax deductible on my 2018 taxes?

[DoninGA]

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[SharonC1 · Accepted solution]

Unfortunately, the loss of value inside a 401K is not deductible for tax purposes.  There are a lot of other taxpayers that wish this loss was deductible as well.  

[lakemarshall]

Thank You

[SharonC1]

You are welcome.  Sorry to be the bearer of bad news.

[Carl]

No, because you can not deduct from taxable income, that which you never paid taxes on in the first place.

[lakemarshall]

Thank You