2007-02-26 06:02:45 · 3 answers · asked by John H 1 in Business & Finance ➔ Taxes ➔ United States
Gains and losses in an IRA account do not figure into your taxes until you take distributions. If this is a traditional IRA account, then all distributions are taxable.
If this is an IRA account that has a nonzero basis (such a nondeductible IRA or Roth IRA), then if your distributions end up being less than your basis because of losses, then upon the final distribution of the IRA you can deduct the loss on Schedule A Miscellaneous Expenses subject to a 2% floor of your AGI.
2007-02-26 16:26:33 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
NO! All Gains (and therby losses) within an IRA are outside of taxation.
2007-02-26 14:08:00 · answer #2 · answered by hdsok 2 · 0⤊ 0⤋
No.
IRA accounts are tax-deferred. Gains within the account are tax-deferred, as losses are.
2007-02-26 14:53:27 · answer #3 · answered by bold4bs 4 · 0⤊ 0⤋