weintegrators
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For a self-employed day trader in Ireland treating trading activity as business income (not investment or CGT), how should unrealized losses on unsold stocks be handled for Form 11 tax filing?
For example, if 10 stocks were purchased at €100 each (total €1,000), 8 were sold at €90 each (total €720), and the remaining 2 unsold stocks now have a market value of €50 each (total €100), how should the €100 unrealized loss on the unsold stocks be treated?
For example, if 10 stocks were purchased at €100 each (total €1,000), 8 were sold at €90 each (total €720), and the remaining 2 unsold stocks now have a market value of €50 each (total €100), how should the €100 unrealized loss on the unsold stocks be treated?
- Should the unsold stock be included in the *Purchases ,
- and would it be appropriate to report it under the Stock, Work in Progress, Finished Goods field? Should the value of the unsold stock be recorded at the original purchase cost (€200) or its current market value (€100)?"
- Additionally, when calculating Net Assets, would it be original purchase cost or current market value.