Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thanks for your question and for asking for me
So can you clarify that the losses were for this other property you purchased and never moved into (although this had been the plan)
And has this other property been sold yet?
Did you pursue the builder through court for the money he ran off with and what was the outcome?
Thanks for your response
Then this can only be considered once the property (on which this debt arose) is sold and cannot be used on the gain from 2014.
Let me know if I can assist further
No - you will offset the loss against any gain you make on the sale as I would assume this was capital costs.
Then this loss can be carried forward to offset against any future gains
Then if you have no future capital gains then this loss will remain unused I am sorry to say.