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My self directed retirement account company sent me a payment, and now value my account at 0$. Am I able to take this as a capital loss?

 
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dmertz
Level 15

My self directed retirement account company sent me a payment, and now value my account at 0$. Am I able to take this as a capital loss?

No.  Losses that occur within your retirement accounts are not deductible.  Money and investments in retirement accounts are not subject to capital-gains treatment.

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3 Replies
dmertz
Level 15

My self directed retirement account company sent me a payment, and now value my account at 0$. Am I able to take this as a capital loss?

No.  Losses that occur within your retirement accounts are not deductible.  Money and investments in retirement accounts are not subject to capital-gains treatment.

My self directed retirement account company sent me a payment, and now value my account at 0$. Am I able to take this as a capital loss?

How should I account for the amount of money that they sent me via check to close the account?  It was under $1,000
dmertz
Level 15

My self directed retirement account company sent me a payment, and now value my account at 0$. Am I able to take this as a capital loss?

This represents a distribution from your retirement account that is reportable on Form 1099-R.  If the distribution occurred in 2018 you should already have a 2018 Form 1099-R to be reported on your 2018 tax return.  If the distribution occurred in 2019 you'll get the 2019 Form 1099-R near the end of January 2020 that you'll report on your 2019 tax return.  Contact your self-directed retirement account company for details on how they will report this distribution.
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