losses for last year on my IRA

L1: losses for last year on my IRAI have had a 72t for the past 2 years. I received from Schwab a loss statement for the past year on my custodial IRA from which I receive monthly income. Taxwise -can this loss be deducted and offset against mytaxes? Thank you. krm2008-02-16 09:31, By: krm, IP: [76.25.79.245]
L2: losses for last year on my IRANO. Once clients pass 50, I usually advise them into having equity investments outside of retirement accounts for a number of tax reasons, and this is one of them. Losses within retirement accounts are not deductible, unless you “cash out” entirely at a final loss.2008-02-16 09:38, By: dlzallestaxes, IP: [72.81.120.28]

L2: losses for last year on my IRAWhile Schwab sends out this gain/loss statement on both retirement and taxable accounts at the same time tax statements come out, they don”t make it real clear that the retirement account gain/loss statement is simply to show how investments performed and has absolutely no current tax impact, as dlz noted.2008-02-16 11:56, By: Alan S., IP: [24.116.165.60]