I've been buying shares for a little while now and it's always been in the back of my mind about the tax aspect. I've been reading the threads but there seems to be a lot of "if this then that" type scenarios. So I've a few questions that might set me on the straight and narrow.
1: I know there is a €1270 tax free exemption. Great. So if I sell shares to get my profit today can I buy the shares back tomorrow or do I have to wait a certain amount of time to buy them back.
2: Similar question for selling shares that are at a loss. If my shares have gone down 10% can I sell them and report a loss then buy them back. I know this conflicts with question 1. Hopefully this is not a scenario I need to worry about.
3: If I sell shares at a loss how many years can I carry the loss for to hopefully offset tax on profit in the future?
4: I've gotten some dividends. They're small. Are these in the €1270 exemption too or do I just get taxed on them. I don't care either way. I just want to do it right.
5: On my dividends, they've been from US companies. Typically a small amount has been withheld for tax. When I'm reporting to Revenue do I report 100% of the dividend or the amount I actually received.
6: Finally I've been Googling where to report any profit. It says Form 12. I've had a look at MyAccount on Revenue.ie. I'm a PAYE worker. I can't see anything that says share income or dividend. Is there a simple way of reporting these numbers to Revenue or is it a 20 page form to report €50?
1: I know there is a €1270 tax free exemption. Great. So if I sell shares to get my profit today can I buy the shares back tomorrow or do I have to wait a certain amount of time to buy them back.
2: Similar question for selling shares that are at a loss. If my shares have gone down 10% can I sell them and report a loss then buy them back. I know this conflicts with question 1. Hopefully this is not a scenario I need to worry about.
3: If I sell shares at a loss how many years can I carry the loss for to hopefully offset tax on profit in the future?
4: I've gotten some dividends. They're small. Are these in the €1270 exemption too or do I just get taxed on them. I don't care either way. I just want to do it right.
5: On my dividends, they've been from US companies. Typically a small amount has been withheld for tax. When I'm reporting to Revenue do I report 100% of the dividend or the amount I actually received.
6: Finally I've been Googling where to report any profit. It says Form 12. I've had a look at MyAccount on Revenue.ie. I'm a PAYE worker. I can't see anything that says share income or dividend. Is there a simple way of reporting these numbers to Revenue or is it a 20 page form to report €50?
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