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I have a loss in an IRA account. Can I sell, and take the $3000 annual deduction on my tax return?


the loss is on a mutual fund within an IRA (tax sheltered) acount

No, you can't take the loss now or later - that's the price you pay for the ability to defer taxes on IRA appreciation. But you can sell a fund that you hold in an IRA as long as the money is re-invested in something else but is still in an IRA - could buy a different mutual fund or something like a CD.
No. IRA accounts are ring-fenced. Taking anything out -- with profit or loss -- is taxable. Losses and profits are not taxed as such.

Be patient. This too shall pass.
Losses cannot be taken on an IRA, neither can profits be taxed.
No, IRAs are tax deferred. Since you don't pay tax on the gains you can't take deductions on the loses
You can buy and sell using money that is in the account. Cash from sales is kept in a money market account within the IRA. If you sell the mutual fund the proceeds go into the money market account. You can then use that money to by another fund. All money must stay within the IRA which may consist of multiple accounts.

The $3000 deduction only applies if you have put $3000 into the IRA. It does not matter what takes place within the IRA. IRA's do not have losses, only changing balances.
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