Tax loss Harvesting USA stock and buying same stock on Hong kong stock exchange

[fonduster]

Hey guys,

If i have a loss on alibaba where i originally put in 1k and its now worth 500. Could i sell said baba on american exchange and buy it same day on the hong kong exchange for around 500e. Would revenue accept this as a loss as the ISIN is different so technically they are a different stock.

 

[AAAContributor]

Not worth the hassle for such a small sum of money.

Notwithstanding the different ISINs, the Hong Kong shares and ADRs are fully fungible in both directions:



They're effectively shares of the same class with the same entitlements from the looks of things.

Not a tax adviser, but Section 580 deals with share identification and the loss relief you are seeking under Section 581 wouldn't be available in my opinion.

Taxes Consolidation Act, 1997, Section 580

The electronic Irish Statute Book (eISB) comprises the Acts of the Oireachtas (Parliament), Statutory Instruments, Legislation Directory, Constitution and a limited number of pre-1922 Acts.

www.irishstatutebook.ie

Taxes Consolidation Act, 1997, Section 581

The electronic Irish Statute Book (eISB) comprises the Acts of the Oireachtas (Parliament), Statutory Instruments, Legislation Directory, Constitution and a limited number of pre-1922 Acts.

www.irishstatutebook.ie

 

[fonduster]

Thanks for your input, the figures i gave are a sample of what im trying to do but my actually figures are substantially more.. It looks like i cant do it sadly, but thats for your input.