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Carrying capital loss forward

  • 19-10-2011 9:31pm
    #1
    blast06
    Registered Users, Registered Users 2 Posts: 228 ✭✭


    Hi, I closed the sale of a house in Feb 2010 at a significant loss. How long can i carry the capital loss forward to use to offset current and future CGT liabilities from profits of share sales ?

    Also, if anyone know .... when calculating the capital loss from the house sale, can i include solicitors fees in the cost of purchase and deduct solicitors fees and auctioneers fees from sale price to determine total capital loss ?

    Thanks.


Comments

  • #2
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    A general CGT rule is that an allowable loss may be carried forward indefinitely.

    Another general CGT rule is that incidental costs of acquiring an asset are added to the cost, and incidental costs of disposal are deducted from the proceeds.


  • #3
    Mark in Lucan
    Registered Users, Registered Users 2 Posts: 20 ✭Mark in Lucan


    nompere wrote: »
    A general CGT rule is that an allowable loss may be carried forward indefinitely.

    Another general CGT rule is that incidental costs of acquiring an asset are added to the cost, and incidental costs of disposal are deducted from the proceeds.

    nompere, very helpful


This discussion has been closed.
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