realising CGT losses

[gerrygag]

How do I go about consolidating CGT losses over the years to offset gains since then ?

 

[jpd]

Not sure what you mean.

When you submit your CGT return, you just the total of the losses you are claiming and they will be deducted from the gross gain to get a net taxable gain
But make sure you have documentation to back up your figures if Revenue ask for proof of the losses.

 

[Bank Manager]

If you make a loss

This page outlines how losses affect Capital Gains Tax

www.revenue.ie

 

[Corola]

You should start by listing your gains and losses for each year, to see if any of your losses are already used up by subsequent gains, or if some of your gains are used up by the €1,270 annual exemption.

 

[Fortune]

First thing to do is to realise the loss by selling the asset.