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Form 12 - Rental Income

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  • 03-09-2015 2:31pm
    #1
    All in all
    Registered Users Posts: 430 ✭✭


    Hi,
    Any help appreciated.

    2014 was the first year I rented out a house. There was approx. €5k of capital expenditure (which I have receipts, invoices, etc)

    When I am completing the Form 12 capital allowances section;

    Capital Allowances brought forward from a prior year - €0?
    Capital allowance used against rental income in 2014 - €625
    Capaital allowances available for carry forward or offset - €4375?

    Can anyone tell me if above looks correct?


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    #2
    prettyrestless
    Registered Users Posts: 444 ✭✭prettyrestless


    Should be:

    Capital Allowances brought forward from a prior year - €0
    Capital allowance used against rental income in 2014 - €625
    Capaital allowances available for carry forward or offset - €0

    The last one refers to capital allowances in the current (or previous) years that weren't utilized and are available to carry forward. It would be wrong to include the current twdv of your capital items.


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