Hi all,
I'm mulling over the idea of selling a property I inherited a few years ago. Inherited it at a value of 265k, probably get 300k to 310k for it now. My question is this. I have accumulated losses of approx 28k carrying forward from another investment property. I offset these in my annual form 12 against the profit from the investment property. If I decide to sell the inherited property can I offset some of the losses against any CGT liability arising ?
Posting here as it's a personal tax question, if it's not the appropriate section Brendan, please move.
Thanks in advance.
I'm mulling over the idea of selling a property I inherited a few years ago. Inherited it at a value of 265k, probably get 300k to 310k for it now. My question is this. I have accumulated losses of approx 28k carrying forward from another investment property. I offset these in my annual form 12 against the profit from the investment property. If I decide to sell the inherited property can I offset some of the losses against any CGT liability arising ?
Posting here as it's a personal tax question, if it's not the appropriate section Brendan, please move.
Thanks in advance.