Treatment of share losses

[Lobster]

i have a capital gain tax liability on property sale of a little over €70k (gain €215k x 33%). Have losses on share sales of €4.5k and am in a negative position on all other shareholdings of approximately €10k. I've 3 queries:

1: can the €4.5k loss be used to reduce the €70k gain to €65.5k or does it have to be offset against the gross gain i.e. €215k less €4.5k = €210.5k X 33%

2: given my negative position on other stocks should I sell to reduce tax liabilty further? (Given that I think my shares could fall further I may buy back in in 2018).

3: I have losses from last year share sale of another €5k, how would this be treated?


Thanks

 

[Joe_90]

Gains - losses.

 

[Taxpert]

i have a capital gain tax liability on property sale of a little over €70k (gain €215k x 33%). Have losses on share sales of €4.5k and am in a negative position on all other shareholdings of approximately €10k. I've 3 queries:

1: can the €4.5k loss be used to reduce the €70k gain to €65.5k or does it have to be offset against the gross gain i.e. €215k less €4.5k = €210.5k X 33%

2: given my negative position on other stocks should I sell to reduce tax liabilty further? (Given that I think my shares could fall further I may buy back in in 2018).

3: I have losses from last year share sale of another €5k, how would this be treated?


Thanks

Gain of 215 - loss of 4.5 - loss of 5 = net gain.

Yes if you crystallise more losses you can use them to reduce the net gain.