topic My wife invested in a company within her IRA. She acquired the stock in 2014 and the company went under in 2017. Can this $10,000+ loss be claimed? If so how? in Get your taxes done using TurboTax

My wife invested in a company within her IRA. She acquired the stock in 2014 and the company went under in 2017. Can this $10,000+ loss be claimed? If so how?

scottcosby — Tue, 10 Mar 2026 06:45:23 GMT

Re: My wife invested in a company within her IRA. She acquired the stock in 2014 and the company went under in 2017. Can this $10,000+ loss be claimed? If so how?

Anonymous_ — Thu, 17 Nov 2022 02:34:30 GMT

I do not believe there is any recourse after tax reform (the TCJA).

Re: My wife invested in a company within her IRA. She acquired the stock in 2014 and the company went under in 2017. Can this $10,000+ loss be claimed? If so how?

NCperson — Thu, 17 Nov 2022 02:54:04 GMT

@scottcosby - you already received the benefit of a deduction, but not in the normal way.,...... presumably the money placed in the IRA was pre-tax so no tax was ever paid on the earnings.

So the losses were "house money", so there is no deduction....

The way an IRA works is that there is no tax consequence from any gain or loss that occurs in the IRA. If you 'shoot the moon' on a stock and sell it at a considerable gain, the IRS doesn't come knocking for its fair share, nor should there be an expection to ask the IRS to share in any loss that occurs in the IRA.

Only upon distribution does the Taxman get his share.....and that is not occuring here.