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Tax deductability of losses on shares

  • 26-10-2010 5:21pm
    #1
    steve9859
    Closed Accounts Posts: 1,554 ✭✭✭


    Are capital gains losses on shares deductable against PAYE income in Ireland for the purposes of calculating income tax or can they only be deducted from capital gains?

    I used to work in the US, and the rules there are clear. Capital losses on shares are deductable first against capital gains, but if there are no capital gains, then the losses can be deducted from income (to a limit). Is this the same in Ireland?? I have searched the various revenue websites, but it is not clear.

    (not that I would trust 100% what I am told on a forum, but it may point me in the right direction!)

    Thanks


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    No

    Capital losses on shares can only be offset against future capital gains and cannot be offset against income tax/PAYE.

    Kind Regards

    dbran


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