Normally, you can't deduct investment losses inside an IRA. But there's a way you still might claim an IRA loss this year.
Strategy: If you cash in all your IRAs, you can deduct a loss to the extent your basis (i.e., the amount of nondeductible contributions) exceeds the proceeds.
However, be aware the loss is treated as a miscellaneous expense, subject to the usual 2%-of-AGI floor.
- Small Business Tax Deduction Strategies No matches