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Sold house at a loss last year what happens now?

  • 02-09-2019 8:01pm
    #1
    lanciadub
    Registered Users, Registered Users 2 Posts: 92 ✭✭


    Hi all, my wife and I sold our house at a loss of 35k late last year. Is there any recourse for us in the future with the revenue whether with personal taxes or when buying another house.
    Just trying to figure out if we can write this off anywhere going forward.


Comments

  • #2
    Happy4all
    Closed Accounts Posts: 2,089 ✭✭✭Happy4all


    lanciadub wrote: »
    Hi all, my wife and I sold our house at a loss of 35k late last year. Is there any recourse for us in the future with the revenue whether with personal taxes or when buying another house.
    Just trying to figure out if we can write this off anywhere going forward.

    If it was your principal private residence, no. Likewise any gain would not have been taxable


  • #3
    lanciadub
    Registered Users, Registered Users 2 Posts: 92 ✭✭lanciadub


    Happy4all wrote: »
    If it was your principal private residence, no. Likewise any gain would not have been taxable

    Thanks, I suppose it was just wishful thinking,


  • #4
    lanciadub
    Registered Users, Registered Users 2 Posts: 92 ✭✭lanciadub


    lanciadub wrote: »
    Thanks, I suppose it was just wishful thinking,

    I did think gains were taxable though with capital gains tax etc, maybe only for non residential. Sorry I'm fairly ignorant in this type of thing.


  • #5
    Happy4all
    Closed Accounts Posts: 2,089 ✭✭✭Happy4all


    lanciadub wrote: »
    I did think gains were taxable though with capital gains tax etc, maybe only for non residential. Sorry I'm fairly ignorant in this type of thing.

    Yes, principal private residents is exempt from CGT unlike rental investment properties


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