INSIGHTS & IDEAS
Loss in IRA accounts
Under certain circumstances losses incurred in IRA’s previously funded by nondeductible contributions could produce a current tax loss. By distributing the entire balance in Roth IRAs you may also declare a loss if the balance distributed is less than your aggregate contributions. You may be in a position to turn lemons into lemonade, given the recent stock market losses many of us have incurred.<< Back to Insights & Ideas