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

Avoiding Mixed Fund and CGT

  • 29-11-2024 09:55PM
    #1
    Info_Seeker
    Registered Users, Registered Users 2 Posts: 95 ✭✭


    Hi Folks,

    I am a non-domiciled resident in Ireland. I created an account on Interactive Broker (IBKR) headquartered in USA.

    I transferred my funds to IBKR US bank account in Germany. IBKR Account title:

    Interactive Brokers LLC
    One Pickwick Plaza
    Greenwich, Connecticut
    06830
    United States

    IBKR Bank name and address:
    J.P. MORGAN SE
    TaunusTurm
    Taunustor 1
    Frankfurt 60310
    Germany

    I invested in shares of US companies.

    My IBKR investment reports and account confirmation letter also show IBKR's address of Connecticut, US.

    I invested 10K in stocks. The stock price increased to 12K. I sold the stocks for 12K.

    I also have a N26 bank account in Germany. My N26 account balance was zero.

    First I transferred 2K (the profit) from IBKR Germany to N26 Germany. And from N26 Germany to my bank account in Malaysia for expenses in my home country.

    Now N26 balance is again zero. I than did another transaction i.e. transfer 10K (capital) from IBKR to N26 and than to my Irish bank. By doing this, I am assuming that I have not mixed the funds and I will not need to pay CGT in Ireland. Looking for guidance on this.

    Thanks



Comments

Advertisement