Selling shares at a loss question

TalleyRand83

Probably a very dumb question, if I say sell shares today (bought in 2020) I believe I can then use the losses against my end of year tax liability, the silly part is if I sell my shares through the online service I'm using how do I "prove" to revenue I bought and sold for a loss?

Is it a matter of me printing out statements and showing all the buys and then sale of specific stock? My own accountant is harder to get in touch with than the Pope so thought might get a quick answer here

Geuze

You can offset a capital loss against a capital gain.

You can't offset a capital loss against income tax.

beachhead

You'll need to show proof of buying price and charges in case Revenue ask.Unlikely though but still better to have all the paperwork available.You need to keep records for 6 years and I'd prefer a piece of paper rather than depend on an online account.Both are 110%

y0ssar1an22

https://www.boards.ie/discussion/2058226202/selling-shares-at-a-loss-question

dont be selling an asset for a loss as that wont cover an income tax liability.

those losses would be used against future capital gains, rather than income tax which is what i think you are suggesting here.

they are 2 separate taxes that do not interact