Sale of PPR and Rental Income

[LFC Murphy]

Hi,

Firstly my wife and I are jointly assessed.

The story goes... My wife sold her house which was our PPR in Dec 2018. There was an overall loss of €59000 on the property.

I have a rental property and my question is, can I offset this loss against annual rental income returns?

Thanks

 

[dublin67]

No. You can't offset a capital loss against income. If the house was your wife's PPR for the whole period she owned it then there is no capital loss in any event.

 

[LFC Murphy]

The house was both our PPR if that makes any difference and we are jointly assessed on the Form 11

 

[jpd]

There is no CGT tax due on gains made from selling your PPR nor loss relief on losses made from selling your PPR

 

[LFC Murphy]

Thanks folks, as I suspected I suppose.