What is the best course of action (Taxation of undeclared Stocks with Dividends)

egyman

Hi All,

In 2022, I thought of trying this online shares trading, and got some shares in two different companies. I have invested around 2000 euros, lost 800 euro. However, I have one issues now. One of the companies issue dividends and they are already in my online broker profile (i.e., not moved to my bank account yet). Also, I have not declared that I bought any shares, as I have not sold them as I understand (i.e., not sure if this was correct). The dividends value till the end of 2022 is 13 Euro and 12 Euro till the end of 2023.

I am worried now, this could be considered as "tax evasion", also, not sure how to report this to Revenue.

Please note I have not moved any money from this profile to any bank account, and the total profile is still showing me as lost 800 Euro

Appreciate your help and support.

Best Regards,

relax carry on

Declare the dividends in your 2022 and 2023 tax return via your Revenue Myaccount.

If you have realised gains/losses from CGT purposes in 2022 then file a CG1 return for 2022. You should also be able to file a CG1 for 2023 as well.

Considering the amounts involved I wouldn't be losing any sleep over this.

egyman

https://www.boards.ie/discussion/comment/121697422#Comment_121697422

Thanks a lot for you reply.

The losses is due to shares price of one company fall down close to 3.0 USD, and I got the with around 19.0, not due to disposing. Should I still file CGT on them?

Regards,

relax carry on

https://www.boards.ie/discussion/comment/121700173#Comment_121700173

No. Those aren't realised losses or gains. The share value fluctuations are not CGT events.