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Offset property capital loss against shares sale profit ?

  • 04-11-2009 10:20pm
    #1
    blast05
    Closed Accounts Posts: 256 ✭✭


    Hi,

    I have taken a 40K loss on the sale of a house. Can i offset this capital loss against any future capital gains (including shares) for up to the next 5 years ?

    Cheers.


Comments

  • #2
    dranreb66
    Closed Accounts Posts: 3 ✭dranreb66


    Yes a loss for CGT purposes can be used against future gains.


  • #3
    betonit
    Registered Users, Registered Users 2 Posts: 526 ✭✭✭betonit


    dranreb66 wrote: »
    Yes a loss for CGT purposes can be used against future gains.


    except development land?? i know its not the case here but just wondering


  • #4
    SaschaKyiv
    Closed Accounts Posts: 29 ✭SaschaKyiv


    CGT losses can be carried forward indefinitely.

    A development land loss (which up until recently would have been unheard of) can be carried forward and offset against any future capital gain.

    An ordinary (non-development land) loss cannot be used to offset a development land gain.

    Hope this has been helpful.


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