Community

Share knowledge. Find answers. Ask questions.

Online Share Trading

Engage and learn about markets and trading online

tax loss or profit carryover

Reply
Frequent Contributor
HI All an easy question. Is the loss from one tax year transferrable to the next year and be tax deductible?
0 Kudos
Reply
2 REPLIES 2
Highlighted
BullsnBears
Contributor
Yes it is. But a loss can only be carried over for one tax year.
0 Kudos
Reply
Super Contributor
Why you saying this, "only transferrable for one year"? >>> Remember that deduction is capped for individuals: example, loss on share trading not to be offset agains taxable income from salary, and so forth.
0 Kudos
Reply