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Carry forward of capital losses

  • 03-07-2017 7:43pm
    #1
    chillit
    Registered Users, Registered Users 2 Posts: 110 ✭✭


    Just wondering if you have to register capital losses in the year of the losses in order to carry them forward to future years. For offsetting against future gains.

    My dad is about to sell a house at a small profit. I know that years ago he made a loss on eircom shares and I'm wondering if this could now be offset against the current gain. He didn't register the share loss at the time as he was paye and not making personal returns


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    chillit wrote: »
    Just wondering if you have to register capital losses in the year of the losses in order to carry them forward to future years. For offsetting against future gains.

    My dad is about to sell a house at a small profit. I know that years ago he made a loss on eircom shares and I'm wondering if this could now be offset against the current gain. He didn't register the share loss at the time as he was paye and not making personal returns

    I believe the 4 year rule applies. IE if he sold them in the last 4 years he could file a cg01 for that year claiming the losses. However if it's more than 4 years he would not be able to claim the losses.


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