is ira loss deductible?

[karmic_caboodle]

Hi!

My employer was purchased and they rolled over my 401k into a rollover ira account that was managed by schwab. Schwab sent a year end summary saying a bunch of the stocks they sold in the ira resulted in losses. Is this loss deductible?

[GrannyJanS]

The short answer is No.

Your gain or loss on retirement savings isn't realized until you start withdrawing from your savings. Assuming you have several years until you retire there's a good probability that your loss will be overcome by future gains.

[karmic_caboodle]

thanks! so i guess the fee isn’t deductible too.

[PattiF]

No, unfortunately, the fee is not deductible either.