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

Capital gains Tax on investment property in negative equity

Eire2008 · 2017-09-28 11:58:01

Hello. I've recently sold my apartment which I rented out for the latter half of my ownership. I lived there from 2005-2010, I rented it out from 2010-2017. I paid 226K for it in 2005 and sold it this week for 175K. As it was a loss, I'm looking for advice on whether I need to pay CGT and if so, with these figures, any…

28-09-2017 11:58am

#1

Eire2008

Registered Users, Registered Users 2 Posts: 11 ✭

Join Date: April 2009

Posts: 6

Hello.
I've recently sold my apartment which I rented out for the latter half of my ownership. I lived there from 2005-2010, I rented it out from 2010-2017.
I paid 226K for it in 2005 and sold it this week for 175K. As it was a loss, I'm looking for advice on whether I need to pay CGT and if so, with these figures, any idea how much it would be?
Many Thanks

0

Comments

#2 28-09-2017 6:31pm

CIARAN_BOYLE

Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭

Join Date: December 2007

Posts: 14299

yoy made a loss therefore you didn't make a gain therefore you dont pay capital gains tax.

that said you should file a cg01 form to ensure that your loss is on record so you can claim it against future gains. remember that the full loss won't be allowable as it was your ppr for a period.

professional advice is a must.

0