Disposal of a property in the USA

Disposal of a property in the USA

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Apologies my CGT knowledge is a bit rusty. My parents own a property in the USA which has been rented out. They are currently carrying forward a loss on the rental income. When the property is sold they will make a capital gain. Can the rental income loss b/fwd be used against this gain? Thanks
Anon

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By k40911
08th Aug 2014 16:02

Losses may help!

y

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By User deleted
01st Sep 2008 15:02

Fraid Not
No it is not possible to deduct the rental loss against the CG. You can however carry forward the loss to use against revenue in the future. Regards Peter

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