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Re: Tiger44 post# 29142

Wednesday, 10/20/2021 11:49:02 AM

Wednesday, October 20, 2021 11:49:02 AM

Post# of 29883
FWIW...

Qualifying for a tax deduction
Only in very rare situations can you deduct losses in your Roth IRA account. To qualify for the deduction, you must close all of your Roth IRA accounts, including Roth IRA accounts that have profits.

Your traditional IRAs need not be closed, as they are treated separately, and the value of your Roth IRA from the previous year or at any point during the time the account was open does not matter. You must show a loss from your tax basis in the account.


~TurboTax



Guessing you won't go this route.


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