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jchacon631
Level 2
June 1, 2019
Question

I closed m Roth IRA and took a loss, do I need to report it?

  • June 1, 2019
  • 1 reply
  • 0 views
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1 reply

DanielV01
DanielV01
Level 15
June 1, 2019

You will need to report the distribution.  It shouldn't be taxable if you did not recover your basis.  But the distribution is reported on a 1099-R, and that needs to be reported.  When asked about the Roth distribution, make sure you enter the amount of the contributions you made to it after tax before 2018.

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J
jchacon631Author
Level 2
June 1, 2019
It was only open for 3 months, mid October to mid December.
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