topic If I lost IRA money in the stock market before I moved it to an IRA savings account, can I deduct that loss or recoup some of the money on my tax return? in Retirement tax questions

If I lost IRA money in the stock market before I moved it to an IRA savings account, can I deduct that loss or recoup some of the money on my tax return?

sbowen32 — Tue, 10 Mar 2026 07:07:06 GMT

Re: If I lost IRA money in the stock market before I moved it to an IRA savings account, can I deduct that loss or recoup some of the money on my tax return?

VolvoGirl — Thu, 10 Nov 2022 20:58:30 GMT

No you will just have less income to pay tax on when you take it out. If you are rolling it over to another IRA account there should be no taxes due on it.

Re: If I lost IRA money in the stock market before I moved it to an IRA savings account, can I deduct that loss or recoup some of the money on my tax return?

NCperson — Fri, 11 Nov 2022 03:20:28 GMT

@sbowen32 - remember, you never paid tax on that money up front and given it is now worth less than it was originally, you won't have to pay taxes on what you lost on the way out either.

So in effect, the IRS is already subsidizing your loss by not asking you to pay tax on the money originally contributed.

Re: If I lost IRA money in the stock market before I moved it to an IRA savings account, can I deduct that loss or recoup some of the money on my tax return?

sbowen32 — Sun, 13 Nov 2022 10:56:41 GMT

That makes sense! Thank you so much.

Re: If I lost IRA money in the stock market before I moved it to an IRA savings account, can I deduct that loss or recoup some of the money on my tax return?

fanfare — Sun, 13 Nov 2022 14:50:22 GMT

When you give up on your brokerage IRA and go to a savings account IRA it is usually the bottom of the market.

The stock market is climbing again now.

That's how it always goes.

@sbowen32