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Client Question: Are Losses on My Roth IRA Deductible?

Posted by McDonald & Osborne Posted on Oct 12 2015

According to IRS Publication 590 , losses on your Roth IRA investment may be deductible. In order to deduct losses on your Roth IRA investment:

  1. All of the amounts in all of your Roth IRA accounts must be distributed and
  2. The amount distributed must be less than your basis in all your Roth IRA accounts.

The loss would be reported on Schedule A of your Form 1040 and is subject to 2% of your adjusted gross income.

Contact our office with any questions regarding Roth IRAs or other retirement planning opportunities.

Pamela Osborne
Accountant & Office Administration

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