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Can IRA losses be deducted in 2018

 
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dmertz
Level 15

Can IRA losses be deducted in 2018

 No.  Losses in your IRA cannot be deducted on your 2018 tax return.

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3 Replies

Can IRA losses be deducted in 2018

What type of IRA losses are you referring to?  Losses occurring within a tax deferred retirement account are not reported on nor deductible on a tax return.
Carl
Level 15

Can IRA losses be deducted in 2018

Since an IRA is funded with "before tax" dollars and you didn't pay taxes on that money, then you have nothing to deduct from taxable income. You can't deduct that which you never paid taxes on in the first place.
dmertz
Level 15

Can IRA losses be deducted in 2018

 No.  Losses in your IRA cannot be deducted on your 2018 tax return.

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