In-app Trading 212 Statement for 2024

[Carmar]

I can now see my Trading 212 statement for 2024 on my app, which is a great summary document to have.

I am now thinking about what needs to be declared to revenue. On my Form 11, I will need to declare the realised profits for trades closed in 2024. I am wondering if the realised profits are net of FX fees?

I will also have to declare interest on uninvested cash and dividends. Am I correct in assuming that I don't need to declare share trades which are still open (unrealised P/L)? Also, cashback from purchases need not be declared, correct? Thank you for any feedback.

 

[AndroidMan]

Looking at mine and its a real mess. With some pies there are so many rebalancing transactions, small adjustments here and there and considering the 4-week rule in buying and selling and whether it is CGT or not its quite a challenge to figure all this out.
If somebody has a spreadsheet for making this easier, please share.

 

[Corola]

If you have been rebalancing frequently it will not be easy.

You could extract all your buy and sell transactions to excel, and sort them by stock then by date. Find which loss-making sells were followed by a buy within four weeks and exclude them. Then sum the remaining realised P/L.

Then this year, stop rebalancing.

 

[AndroidMan]

I think the pie concept is good, but a nightmare to reconcile for Irish tax calculations.
Its probably easier for US users.

 

[Corola]

Realistically, simply summing all the realised P/L amounts from your statement will be pretty close to the right answer. Since manual rebalancing will be selling the stocks that are overweight, i.e. have made the largest gain since you bought them. The four-week rule only concerns losses, not gains.

 

[Corola]

I am wondering if the realised profits are net of FX fees?

Yes, you can deduct the FX fees.

Am I correct in assuming that I don't need to declare share trades which are still open (unrealised P/L)?

You must declare any trades (open or closed) with realised P/L.

Also, cashback from purchases need not be declared, correct?

No, you don't need to declare cashback.

 

[Carmar]

Great. Thank you.