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    zipperlip's Avatar
    zipperlip Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Jan 23, 2009, 07:43 AM
    Stock Market Losses
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 23, 2009, 07:53 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's Avatar
    zipperlip Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Jan 23, 2009, 07:08 PM

    Thanks, ScottGem

    Much as I suspected.
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