Ponzi Loss in Roth IRA
Am I correct that even though ponzi losses are available for non tax-deferred accounts under the 2009 letter ruling, you are not able to claim a Ponzi loss from a Roth IRA account due to the 2017 tax act limitation?
Am I correct that even though ponzi losses are available for non tax-deferred accounts under the 2009 letter ruling, you are not able to claim a Ponzi loss from a Roth IRA account due to the 2017 tax act limitation?
Permalink Submitted by Alan - IRA critic on Tue, 2023-12-19 23:37
Yes, you are correct.
Permalink Submitted by Kenneth Coutant on Wed, 2023-12-20 02:50
Do you have a cite? If they are allowing ponzi losses under the 2019 rev ruling why wouldn’t they allow the ponzi loss in an ira. Seems like they were only eliminating ira losses due to a decline in value inthe2017 act.sorry just trying to help out aclientthat got hammered by crooks.