Accumulated losses

Westgolf

Registered User
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Hi all,

I'm mulling over the idea of selling a property I inherited a few years ago. Inherited it at a value of 265k, probably get 300k to 310k for it now. My question is this. I have accumulated losses of approx 28k carrying forward from another investment property. I offset these in my annual form 12 against the profit from the investment property. If I decide to sell the inherited property can I offset some of the losses against any CGT liability arising ?

Posting here as it's a personal tax question, if it's not the appropriate section Brendan, please move.

Thanks in advance.
 
The accumulated losses - are they trading losses or capital losses?
You can't offset different tax heads.
 
Accumulated losses are from 6 years of the investment property costing me a good bit more than it brought in due to a very poor rental income with bottom of the market. rents. It's losses on rental income.
 
Those losses are of no use / relevance to CGT.

They carry forward for use against any future rental profits.
 
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