Help to complete CG1 Form
Hi everyone,
I am looking for some help to transfer the details below to the CG1 form.
Non-domiciled, Irish resident, I have sold a foreign property in Dec 2019 at a loss.
Please see below details:
- Sell price 6900
- Purchase price 65000
- Gain 4000
- Solicitor Fees 974
- Enhancement Expenditure 4858
- Total Expenditure: 5832
- Personal exemption: 1270
- 4000 (Gain) - 5832 (Expenditure) - 1270 (Personal exemption) = -3102 (Loss)
- Loss 3102
Would the details below be the correct way to complete the form?
- Section 1h, Aggregate Consideration – 69000
- Section 8, Losses in the year before S. 604A relief – 3102 (would this be correct or I have to calculate the losses before the personal exemption is deducted?)
- Section 15, Personal Exemption - 1270
- Section 21, Double Taxation Relief - I did not have to pay foreign tax in respect of the disposal of the property. Do I have to complete this part?
Thanking you in advance for your assistance.