Selling house - Capital Gains Tax

[Toots1980]

Hello,

I purchased my own house a number of years ago. Only my name is on the deeds.

I got married last year and my wife already owned her own home so we both live there now. Only my wife's name is on the deeds.

I have my house rented out but am now thinking of selling.


I purchased the house for €296K and would hope to get €200K as a selling price.

Would I be subjected to Capital Gains Tax on the sale?

Thanks.

 

[Bobbyg]

No you would have to make a gain to be liable to capital gains tax and as you purchased for €296k and are selling for €200k you will be making a loss of 96k, assuming €200k is marked value.

 

[Toots1980]

Thanks Bobby.