Not investment advice. I have some tax questions that I’m hoping others here have had experience with.
On May 8, I bought 12,000 shares of SONY Corp. for at about ¥12207/share.
On May 15, I sold 9,000 of those shares at about ¥13312/share.
This resulted in a realized gain of ¥9,880,582 after deducting brokerage fees and margin interest. The brokerage withheld about ¥2,000,000 for capital gains tax.
Do Japanese brokerages (SBI, in my case) automatically account for trading history when withholding tax? e.g., if I incurred a capital loss last year, will the brokerage know to reduce my tax withholding from carrying over the losses? Do I need to manually account for those carryovers in my 2024 tax return? Does it matter if I purchased with own funds vs. margin?
Thanks!
by kextatic