Tax Law (Questions About Taxes)/Claiming Roth IRA Losses


Hello There,

I had roth ira account and invested in gold and have lost 48% value for that account and so can i claims losses in my tax return?

Also, right now am renting place and paying $1441 per month in rent and am using portion of my place as my home office and so can I claim my yearly rental amount on my tax returns?



Thanks for your question.

You can deduct losses on a Roth IRA when you have unrecovered basis and the entire balance in your Roth account is withdrawn.  It would be deductible as a miscellaneous itemized deduction on Schedule A, subject to the 2% limitation.

If you are using a portion of your rental unit exclusively and regularly as your home office you can deduct that percentage your rental costs that applies to the portion that is a home office.  Additionally, if you are an employee, you can only deduct the home office expenses if it is for the convenience of the employer.

Hope this helps.

John Stancil, CPA

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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