Capital Gains Tax FIFO

[margaret1]

With regard to CGT or Capital losses on shares, is the FIFO rule applied per account individually or just class of share regardless of multiple accounts?
e.g. Paper shares currently held for 15 years with broker1.
More recent years additional shares purchased/sold online with broker2. When I am calculating CGT/Losses do I apply the rule to the online shares I purchases/sold or do I apply the FIFO rule to the paper shares with broker1.

It was difficult to find an explanation of Class on the revenue.ie site but if definition of class is the same company,the the shares are the same class.

 

[DB74]

Class means exact type of share - eg Ordinary Shares or Preference Shares or "A" Ordinary Shares

Companies can have many different types of shares, all with differing voting rights, profit rights etc etc

Good question re the FIFO - AFAIK Revenue specifically states that FIFO must be used unless the shares have been bought and sold within a 4 week period. You would certainly have a good argument to back up that a very specific subset of your shareholding was sold but Revenue aren't being very accomodating with issues like this lately IMO.

Perhaps someone else can offer better help than me or has had a similar experience.

 

[jpd]

I'd imagine that the different brokerage accounts don't come into play - in theory, you could transfer your holding from one to another.

But keep a trace of your dealings, just in case you need to justify the calculations.