windmill Posted February 20, 2009 Report Share Posted February 20, 2009 Are Roth IRA Losses considered a capital loss and reported on a Sch D or 8606? I have been looking everywhere for this answer. No converson or recharacterization involved. Quote Link to comment Share on other sites More sharing options...
JRS Posted February 20, 2009 Report Share Posted February 20, 2009 Check out this article. I didn't read the whole article, but it might help. http://www.investopedia.com/articles/retir...t/05/012505.asp Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted February 20, 2009 Report Share Posted February 20, 2009 First 8606, then Schedule A miscellaneous deductions: http://www.irs.gov/pub/irs-pdf/p590.pdf taxbilly Quote Link to comment Share on other sites More sharing options...
imjulier Posted February 20, 2009 Report Share Posted February 20, 2009 If I recall correctly, the account has to be fully distributed prior to claiming losses. Julie Quote Link to comment Share on other sites More sharing options...
LindaB Posted February 20, 2009 Report Share Posted February 20, 2009 If I recall correctly, the account has to be fully distributed prior to claiming losses. Julie All of his Roth IRA's have to be distributed in order to claim a loss. Quote Link to comment Share on other sites More sharing options...
RitaB Posted February 20, 2009 Report Share Posted February 20, 2009 Are Roth IRA Losses considered a capital loss and reported on a Sch D or 8606? I have been looking everywhere for this answer. No converson or recharacterization involved. This may sound stupid, but the person did withdraw the funds, right? I mean, I have had a ridiculous number of people wanting to deduct portfolio losses and they didn't sell. (Course, they never said anything when they had gains.) Agree with others here, if all ROTH accounts are distributed, the loss goes on Sch A. Hope they can itemize... Quote Link to comment Share on other sites More sharing options...
windmill Posted February 21, 2009 Author Report Share Posted February 21, 2009 Thanks to one and all..... Quote Link to comment Share on other sites More sharing options...
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