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Trust Distribution applied to Individual losses

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Newbie

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Trust makes a profit through share trading. One of the beneficiaries, an individual, has a loss from also share trading. Can the beneficiary use its personal tax loss from share trading to offset the distribution from the Trust?

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Devotee

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This is more complicated than it appears. Is the share trading a business (under the legal definition) in both your name and trust, or just one, or neither?

 

Generally you can offset personal losses against other income (including trust distributions), but there are a number of reasons why it may not apply to you.

 

Go see an accountant and get proper advise

1 REPLY 1

Most helpful response

Devotee

Replies 0

This is more complicated than it appears. Is the share trading a business (under the legal definition) in both your name and trust, or just one, or neither?

 

Generally you can offset personal losses against other income (including trust distributions), but there are a number of reasons why it may not apply to you.

 

Go see an accountant and get proper advise