Carrying forward a loss

[dark horse]

I made a loss on a property and recorded on my Form 11 for the valid year. Do I then have to record that loss every year on my form 11 going forward? Or just the relevant year the loss was made?

 

[ClubMan]

I made a loss on a property and recorded on my Form 11 for the valid year.

If you had no gains that year you didn't even have to file it then - but I guess that it doesn't really matter if you did.

If you make a loss

This page is an explanation of how losses affect CGT

www.revenue.ie

You might not have any chargeable gains in the same tax year you have made a loss. In this case, you will not have to include the loss in a return for that tax year.

Do I then have to record that loss every year on my form 11 going forward?

No. If/when you make an appropriate capital gain you can write the loss off.