Lilian Plain Ponytail wrote: » I personally would not be keen on just copying some random guy on the internet. Also, when they re-balance the portfolio, and stocks or fractions of stocks are bought and sold, it will get messy when it comes to tax.
Probes wrote: » Guys is there a solution to this? I’m trying to work out how to pay tax from etoro investments but this seems a major roadblock. Everything is in USD and copy portfolios or PIs can generate thousands of trades, particularly if you dollar cost average throughout the year. Is there a piece of software that can take into account the excel spreadsheet from etoro and calculate your profits in euros?
iAcesHigh wrote: » As far as I'm aware nope, which is why I personally didn't go for it as it seemed like hell of a paperwork afterwards although it would fit my investing type. It feels you'll need to take out Degiro output and build somehting like that in Excel or pay accountant to do the ground work for you...
Probes wrote: » Thanks, actually I put a spreadsheet together yesterday that takes all my etoro transactions and converts them to euros at the buy and sale points and then sums the profit/loss, it takes the daily exchange rate from the central banks excel spreadsheets. It doesn’t take into account the initial euro-usd conversion though, nor the final one if I withdraw. I’m not sure if that’s needed, or if it’s even possible to do properly. Is this how others are doing it?
HLagri wrote: » So I've setup my Degiro account and want to start investing. I've been looking more into passive long term investing and I believe that investing in accumulating ETFs are probably my best bet for now, I just have to decide on which ETFs to actually invest in. I was looking at the VWCE ETF, would this be safe to go with? What ETFs would be recommended by others in Ireland and is there a combination of 2 or 3 ETFs that would be wise to diversify between? Thanks.
Learpholl wrote: » I'm completely new to all this too so wouldn't take this as advice but having recently gone through exactly what you're looking to do and primarily from reading this article - I went with with these 4 ETFs: EUNL / IE00B4L5Y983 VWCG / IE00BK5BQX27 VFEA / IE00BK5BR733 VUAA / IE00BFMXXD54 All 4 are accumulating ETFs with the only difference from the link above being EUNL / IE00B4L5Y983 instead of VWCE / IE00BK5BQT80 because the iShares one is free on Degiro.
into_the_wild wrote: » I've bought a few stocks via DEGIRO but haven't a clue on how to pay taxes on profits. Any help appreciated.
Bob Harris wrote: » Keep track of what you buy and when and when you sell it and when. DeGiro will help you do that in the transactions tab. Lets say today you buy 4 companies: A 100 shares @ 10€ B 50 shares @ 20€ C 100 shares @ 5€ D 50 shares @ 10€ In July you sell A for 20€ Total gain 1000€ In September you sell B for 40€ Total gain 1000€ In October you sell C for 3€ losing 200€ For the period Jan to November you provisionally have to pay the CGT due. You have total gains of 2000€ and a loss of 200€ Net position +1800€ Your first 1270€ are exempt. You will pay (1800-1270) 530x33% = 174.90 You'll have to pay this by the 15th December in the year the gain is realised. In December you sell D for 20€ realising a gain of 500€ As you have already used your 1270€ exemption you'll pay 500€ x 33% = 165. For the gains made on disposals in December you pay by the 31st Jan the following year. By the 31st of October 2022 you have to make the declaration for your gains/losses in 2020. It is advised to make a return whether you have gains or losses. The form is CG1. Get set up for CGT on myrevenue.ie to facilitate the payments and with a bit of luck you'll have to pay lots of the stuff to Paschal and the boys. If you don't sell you don't pay CGT. If you have more losses than gains, you can carry the leftover losses to the next year to offset gains. (you can do this for up to four years if I'm not mistaken) Take into account the buying and selling costs. If the shares cost you 1000 and the fees are 20€ €1020 your total cost. If you sell for 2000€ with 20€ fees then €1980 is your total proceeds.
into_the_wild wrote: » Thanks a lot mate. This should be a sticky post IMO. Pretty sure lots of people are looking for this info
Metroid diorteM wrote: » If government had a brain they'd user experience the ever living f1ck out of paying taxes. I
maxwell smart wrote: » Hi There I'm looking to buy a particular stock on the Nasdaq, what is the best online trading platform to use? Thanks Max
PerrinV2 wrote: » Is Revolut ok to use as well?
Shedite27 wrote: » Absolutely, great place to start, very user friendly, but if you're getting into it more seriously (ie €1k+), I'd setup a brokerage account. Far more options, cheaper rates and better reporting for when you need to worry about tax.
PerrinV2 wrote: » Probably 10k around I think.
pioneerpro wrote: » Extremely limited selection, no margin, no options, restricted trading on meme stocks, cash takes time to settle after selling IIRC. Also they can be absolute nightmare to deal with customer support if you get locked out. They do fractional shares though. Just set up a DeGiro account tbh.
Bob24 wrote: » One caveat with DEGIRO is that they have delisted most UK investment trusts (which are an interesting investment vehicle for Irish investors from a tax perspective). So anyone considering this stock category should keep it in mind before chosing them as a broker.
Shedite27 wrote: » They're back in now, Monks and Scottish Mortgage for example
namloc1980 wrote: » Does anyone here invest in Eurozone dividend stocks like French / German companies? How do you sort out the DWT issue to ensure you don't get double taxed? On Revenue MyAccount when doing annual tax return US dividends are straight forward as it has it's own entry under other income and the 15% DWT is accounted for, but how do you do the same for EU dividends to avoid being stung for DWT in France/Germany as well as then full income tax in Ireland?
