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zipperlip
Jan 23, 2009, 06:43 AM
My stock and mutual fund portfolio is split between a 401k and a roth IRA.
So far my holdings have lost all gains and a little over 55% of principal investment.
In retrospect, my inclination is to view the issue as a gambling loss.
I am 15 years from retirement.


Can these principal losses be written off my personal income tax?
ScottGem
Jan 23, 2009, 06:53 AM
No. These are not actual losses only paper losses. The losses only come when you cash out. By that time, you may have recouped all these losses.

By the way, gambling lossess can only be used to offset gambling winnings.
zipperlip
Jan 23, 2009, 06:08 PM
Thanks, ScottGem

Much as I suspected.