On Mar 24, 7:47 am, "B Greene" <uubee...[at]gmail.com> wrote:

- quote -

If you close out all of your Roth IRA's, you can take a loss on
Schedule A subject to the 2% of AGI rule and AMT. Thus, the loss
might be worthless if your AGI is high. But be sure to combine all
your misc deductions together (tax prep fees, fees you pay people to
manage your money, etc).

http://www.fairmark.com/rothira/losses.htm

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I know, if a retirement plan reduces Income, that the losses are not
deductible.

What are the rules for a Roth plan that Taxpayer held for 4 years and cashed
out?
(Cashed out before the losses consumed it all)

TP invested 7400 in the plan cashed out for 6500, received 1099R for 6500.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >