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Asked 12/11/2008

Are 401-K losses deductible?

My wife & I both have 401-K plans with losses. Are these losses deductible?

 
 
 
 
 
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Answer 1/1 - Submitted 12/11/2008

No. The 401k is a tax deferred retirement fund. You pay income tax when you withdraw the money after retirement. Same is true for an IRA. Basically the government doesn't want to know anything about it until then.

 
 
 
 
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