Our ATO Community is here to help make tax and super easier. Ask questions, share your knowledge and discuss your experiences with us and our Community.
If someone has a main residence which they predict will sell at a loss can they claim the capital loss against any other capital gains?
Section 118.1 ITAA1997 states you can ignore a capital loss not that you must ignore it.
The ATO also doesn't specify disallowing claiming capital losses from main residence.