Advertisement
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

Setting Loss against your other trading income

  • 28-09-2017 1:06pm
    #1
    Da11
    Registered Users, Registered Users 2 Posts: 61 ✭✭


    Hi,

    I have a question about setting your trading loss against other trading income in your tax return? I made a loss in 2016 on my trading income and then started another venture and made profit on it( lower than a loss in the first trade).
    How do I set the loss against the second trade income in my tax return?
    Do I still have to pay PRSI and USC on my 2nd trading income even the total figure for the year would be a loss?

    When I put my loss in F11 in the losses section ( If you wish to claim under S. 381, to set any loss made in the trade in the year 2016 (other than a relevant loss as defined in S 381B) against your other income, enter the amount of the loss. Claim to be made on or before 31/12/2018.) It does not go against my 2nd trade Income. Also it shows that USC and PRSI still has to be paid on 2nd trade's income..

    How do I do it?

    Thank You for any input..


Advertisement