turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

is ira loss deductible?

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?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

is ira loss deductible?

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.

is ira loss deductible?

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

PattiF
Expert Alumni

is ira loss deductible?

No, unfortunately, the fee is not deductible either.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies