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CG1 form with gain + loss - 4 weeks rule

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  • 02-12-2020 2:19pm
    #1
    Zoh424
    Registered Users Posts: 2 ✭


    I'm trying to fill my CG1 form and I'm confused with the 4 weeks rule.

    I bought some shares at a price of 22 USD per share last September then I sold them for a share price of 14.9 USD in November, then I re-bought those shares for 15 USD again in same day in November.

    Can I use this loss to offset other gains I made?

    And one more question please, what if I sold these shares in the future for say 20 USD per share, technically I will be still making a loss so how to calculate CGT for this transaction?

    In in the revenue website, it says that Shares bought and sold within a four-week period cannot be offset against other gains. However, as per my understanding I bought the share then I kept it for 4 weeks then I sold it hence I could offset this loss against other gains.

    Appreciate your explanation as it's confusing

    Thanks!


Comments

  • Options
    #2
    LaQuica
    Registered Users Posts: 19 ✭LaQuica


    If you repurchase shares within four weeks of disposal, any losses on the sale are ringfenced and can only be used against future gains on the sale of the same shares.


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    #3
    Zoh424
    Registered Users Posts: 2 ✭Zoh424


    LaQuica wrote: »
    If you repurchase shares within four weeks of disposal, any losses on the sale are ringfenced and can only be used against future gains on the sale of the same shares.

    Thanks


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