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Level 1
May 25, 2020 7:09 PM UTC
Question

SEP Deduction

Several years ago, I invested about $50K in a REIT as part of my SEP IRA.  When the REIT was liquidated last year, I had lost about half of my investment.   Does this loss qualify for a Capitol Loss?

    1 reply

    Critter
    Level 15
    May 25, 2020 7:14 PM UTC

    Nope an IRA is like Vegas ... what happens inside an IRA stays in the IRA.  Since you contributed pre tax funds you will simply have less to distribute later so you will have to pay less taxes.