If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Partnership tax laws

lomb · 2010-10-20 11:50:46

In Ireland can losses be retained within the partnership year to year, ie not distributed to the individual partners on their returns? Also if a partnership owns a commercial property/ and rents it as its main trade, can losses from interest be carried forward if there is no rental income in that tax year? Thanks for any…

20-10-2010 11:50AM

#1

lomb

Registered Users, Registered Users 2 Posts: 6,016 ✭✭✭

Join Date: November 2004

Posts: 5871

In Ireland can losses be retained within the partnership year to year, ie not distributed to the individual partners on their returns?

Also if a partnership owns a commercial property/ and rents it as its main trade, can losses from interest be carried forward if there is no rental income in that tax year?
Thanks for any and all help:)

0

Comments

#2 28-10-2010 08:58PM

Alan Shore

Registered Users, Registered Users 2 Posts: 735 ✭✭✭

Join Date: May 2010

Posts: 734

There is a restriction on claiming losses from a partnership where the partner is deemed to be non active. There is no obligation to claim a trading loss it can be carried forward.

Rental Income is Case V its not a trade. Case V losses can't be offset against other income so have to be carried forward.

0