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Can I simply sell out of this and take a deduction against other income in the way one would for any other long term loss? Original investment was 4,000 dollars. Current value is under 700 dollars.

As noted in the previous response, since IRAs are tax-exempt, this capital loss is not reflected anywhere on your tax return. The only time you can wind up with a deductible loss from transactions within an IRA is when you have made nondeductible contributions, and then only when you liquidate the IRA.

Phil Marti
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