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Published by Eva Rosenberg, EA, aka TaxMama
Volume 3,     Issue 96      January 19, 2001


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Today's Greeting
Filing 1099s
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Bought A Home
Because We Care
Being Independent
Miles of Mileage
IRA Losses
Investment Secrets
Money Funnies & Inspiration
Phone Call & More
IRS NEWS
Charitable Contributions
Tooting Her Own Horn
Tax Mama On the WWW
Our Privacy Policy
Prior Issues & stuff
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From St. Louis, MO


Search this SiteI purchased stock through my IRA brokerage account and the company (TWA) has filed for bankruptcy. Can I claim this as a loss against my current income or against future withdraws from m .... (oops!) John

Dear John,

That's one of the drawbacks of making risky investments in your IRA.

You took a deduction for the IRA, ... so all the money in there is tax free. No benefits from tax losses, sorry.

Although, who'd have thought that TWA was a risky investment.

Oh well, those are the breaks, my friend. Next time, try something secure, like .... uh (no, that got bought out), uh, (no ... that dropped 50%), hmmm, um ... McDondalds! They'll stay in business forever!

Better luck on the rest of your portfolio.

Best wishes,
Eva Rosenberg
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