topic Roth IRA Losses in Investing

Roth IRA Losses

demar423 — Tue, 15 Oct 2019 23:04:16 GMT

Where are Roth IRA losses put in TurboTax?

Re: Roth IRA Losses

NCperson — Wed, 16 Oct 2019 23:02:17 GMT

they are not deductible. while all the gains are tax-free when you take a distribution, the same goes for losses - they are 'tax-free' (i.e. not deductible).

Re: Roth IRA Losses

Bees — Fri, 08 Nov 2019 00:42:13 GMT

I should not muddy the waters but.. there was once a loophole where if you closed out all of a Roth at a loss you could claim a deduction. That was eliminated in the 2018 tax law changes. https://www.kiplinger.com/article/taxes/T046-C000-S001-last-call-for-deducting-roth-ira-losses.html

It was a misc deduction on schedule A. Only an answer to a trivia quiz now.