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gsmith7
May 22, 2020
Question

I lost a Cancer Biotech stock CLDX after it went down. My money $72,000 was tied up as a SEP IRA. Can I deduct any of my losses?

  • May 22, 2020
  • 1 reply
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lost a Cancer Biotech stock CLDX after it went down, (bankrupt). My money $72,000 was tied up as a SEP IRA. Can I deduct any of my losses

1 reply

macuser_22
macuser_22
Employee
May 22, 2020

Sorry, but no.   Gains or losses in an IRA are not reportable outside of the IRA.  A loss means that there is less money in the IRA to pay tax on when distributed.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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