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capital gains on capital loss (shares)

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Newbie

Views 679

Replies 5

I made a loss on my sharetrading in the 2018 year. These were real losses which occurred when I sold my shares.

I just received a letter from the ATO asking if I had made a capital gain on my shares.

Is there somewhere on my return that I have to complete when I make a capital loss?

1 ACCEPTED SOLUTION

Accepted Solutions
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Best answer

Newbie

Replies 3

thanks Macfanboy, do i just record a minus in front of the number or do i put the number in brackets? Sorry about that, I am a bit of a numpty here!

 

5 REPLIES 5
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Taxicorn

Replies 4

Yes item 18 V (Net Capital losses carried forward to later income years)

 

They know that you sold the shares so there has to be either a gain or loss recorded.

This loss gets carried forward until you make a gain and can offset it.

 

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Best answer

Newbie

Replies 3

thanks Macfanboy, do i just record a minus in front of the number or do i put the number in brackets? Sorry about that, I am a bit of a numpty here!

 

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Newbie

Replies 1

scratch that,  I think I have found it, thanks again!

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ATO Certified

Community Support

Replies 0

Hi @mikey_t,

 

Welcome to our Community.

 

The information @macfanboy has provided is correct.

 

You may also like to refer to capital losses on shares and units, how to complete the CGT schedule, and there is also a personal investors guide to capital gains tax 2018 available on our website.


If you have any further questions, phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with a customer service representative.


Hope this helps, SueO

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Taxicorn

Replies 0

No brackets no minus sign, it is assumed that any value in that box is a loss.

So just put in the actual value.