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- 2 March 2007
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I could have sworn there used to be a topic of the same name, but cant find it in search. Im wondering about methods to minimise loss that has already occured- that is, you have a stock that has tanked (no/slipped past stop loss), and you dont think its going to go up anytime soon, thus leaving you with no interest to continue holding, and a share which is considerably down.
Do I remember correct that if you sell shares at a loss, that loss can be carried into the following tax year to offset gains on shares if you have no gains on shares in the current year that need offsetting?
Can losses in shares be deducted from any other incomes? like bank interest?
Like now coming up towards end of tax year - would it be better selling the stock at a loss before or after the fin. year if I plan to put that money into other (hopefully better) shares, and not sell any at a proft this fin. year.
cheers
Do I remember correct that if you sell shares at a loss, that loss can be carried into the following tax year to offset gains on shares if you have no gains on shares in the current year that need offsetting?
Can losses in shares be deducted from any other incomes? like bank interest?
Like now coming up towards end of tax year - would it be better selling the stock at a loss before or after the fin. year if I plan to put that money into other (hopefully better) shares, and not sell any at a proft this fin. year.
cheers
