https://ttlc.intuit.com/community/self-employed-group/discussion/roth-ira-capital-loss/01/2836995#M7700 <P>I opened my Roth IRA and contributed $12,000 in March 2020 because I didn't contribute to it in 2019. I further contributed $6,000 in Jan 2021. Total contributions was $18,000. After some losses, I decided to close the account and cut my losses. I ended up emptying the account and withdrawing $6,900 which is what's left of the $18,000 I had contributed. Is the $11,100 considered a loss that I can carry and deduct $3,000 a year from?</P> Mon, 23 Feb 2026 10:02:58 GMT pbmunkey 2026-02-23T10:02:58Z https://ttlc.intuit.com/community/self-employed-group/discussion/roth-ira-capital-loss/01/2836995#M7700 <P>I opened my Roth IRA and contributed $12,000 in March 2020 because I didn't contribute to it in 2019. I further contributed $6,000 in Jan 2021. Total contributions was $18,000. After some losses, I decided to close the account and cut my losses. I ended up emptying the account and withdrawing $6,900 which is what's left of the $18,000 I had contributed. Is the $11,100 considered a loss that I can carry and deduct $3,000 a year from?</P> Mon, 23 Feb 2026 10:02:58 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/roth-ira-capital-loss/01/2836995#M7700 pbmunkey 2026-02-23T10:02:58Z https://ttlc.intuit.com/community/self-employed-group/discussion/re-roth-ira-capital-loss/01/2837403#M7706 <P>No, the loss would not be allowed as a capital loss. It was once allowable as a miscellaneous itemized deduction if you withdrew all funds from IRA's, but that is not allowed in 2022 because of the restrictions on deducting miscellaneous itemized deductions.</P> Fri, 27 Jan 2023 14:24:22 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/re-roth-ira-capital-loss/01/2837403#M7706 ThomasM125 2023-01-27T14:24:22Z