Taxation regarding stock day trading loss

A

AwtkGO

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Hi all, I have a job (PAYE) and on the side doing stock trading on the side this year. I bought and sold a stock/options in span of 1 to several days.
I made a loss from stock trading this year.
Can I use this loss to offset tax from income from my main job?

Let says my PAYE job earns 60000 EUR and I loss 10000 EUR. Does it mean I only need to pay tax for 50000 EUR?
 
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I thought this was a question related to capital loses.
 
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@S class

Is it that clear?

If he sold a share at a loss, it would be a Capital Loss.

But does he not qualify as having a trade if he has done it on many occasions? Any profits would be subject to Income Tax and not CGT.

Can losses in self employed income be offset against PAYE income

Hi, I am a PAYE worker. I will shortly have an opportunity to purchase agricultural land which joins my our family farm. My family are actively farming and I will be able to generate a small income from the purchased land. I am planning on using savings and a loan to fund the purchase but...
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AwtkGO said:
I bought and sold a stock/options in span of 1 to several days.
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What does this mean?
How regularly were you buying and selling shares?

This thread may also be relevant here.

Taxes on day trading

Hi guys, I work a full time job paying paye, prsi and usc etc and have been dabbling in day trading (although not with real capital yet) I understand the capital gains tax of 33% on profits must be payed but my question is, after the cgt tax is taken am I subject to pay paye, prsi and usc on...
www.askaboutmoney.com
 
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How regularly were you buying and selling shares?
Click to expand...
For each company shares/options (let's say APPLE, GOOGLE, etc.) I bought and sold them during the day, or hold them over several days then sold; I didn't keep them for long term; and I repeat doing this for several months during 2025. And the net sum from the trading in 2025 is I loss money.

Because I didn't hold those shares long term, I think it doesn't count as Capital gains or losses.

My understanding is I can use this loss to offset with other PAYE income in the same year, as per this comment https://www.askaboutmoney.com/threads/taxes-on-day-trading.221025/#post-1692595. The post was in 2020, 5 years ago, so I just wanted to confirm.
 
Income tax is Schedule D under the Taxes Consolidation Act 1997, capital losses from sale of shares cannot be offset against PAYE income tax as far as I am aware.
If that were the case we would all be doing it.
 
In ordinary circumstances, the capital losses from the sale of investments cannot be set against income.

However, the OP could argue that they were not capital losses, but trading losses. I don't know if that argument would work, but it's worth exploring.
 
Brendan Burgess said:
If the OP applies to use his trading losses in this way, any future trading gains would be subject to Income Tax.
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Would this trading income be classed as earned income.
Could tax relievable pension contributions be made from the trading income.
 
Brendan Burgess said:
However, the OP could argue that they were not capital losses, but trading losses. I don't know if that argument would work, but it's worth exploring.
Click to expand...
Perhaps the OP should review Revenues
Income tax relief for losses, incurred in a trade or profession

Part 12-01-02

This document should be read in conjunction with sections 381, 381A, 381B, 381C, of the Taxes Consolidation Act.
OP would have to be trading professionally as I see it to win that case.
 
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