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terrierunnels
New Member

I have losses in my IRA account for 2020. Can i claim these losses on my return?

 
2 Replies
Critter-3
Level 15

I have losses in my IRA account for 2020. Can i claim these losses on my return?

Nope ... what happens inside an IRA stays inside an IRA just like Vegas. 

VolvoGirl
Level 15

I have losses in my IRA account for 2020. Can i claim these losses on my return?

You used to be able to deduct it but only If this was your ONLY IRA and you closed it AND did NOT take the tax deduction for your contributions.

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