2832861
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

nwyatt
New Member

If you have investment losses in your Roth IRA can you deduct those? if so where do you enter in that information?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JulieS
Expert Alumni

If you have investment losses in your Roth IRA can you deduct those? if so where do you enter in that information?

No, you can't deduct losses in a Roth IRA, or a traditional IRA. 

 

Prior to the 2017 Tax Cuts and Jobs Act, you could deduct losses in an IRA, if the account was fully distributed (empty). Even that narrow deduction is no longer allowed. Click here for more information. 

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question