Hello, I’ve got a question about capital losses and using it to offset capital gains. I’ve some stocks sitting in my previous employer’s broker A which I sold recently and gained 100,000 yen in profit. I respectively sold stocks on my new employer’s broker B and lost 100,000 yen. Since these both even out do I need to declare both in next year’s Kakutei Shikoku? What if my losses weren’t enough to offset my gains? The tax I’ll have to pay probably won’t be that much apart from the ethical reasons what would happen if I don’t declare these? TYIA.
Edit:
The trades were conducted on non-Japanese broker accounts (such as eTrade).
by PurposeFew973
2 comments
[deleted]
> Since these both even out do I need to declare both in next year’s Kakutei Shikoku?
If you are filing an income tax return anyway, you should declare the transactions. If you are not otherwise required to file an income tax return (and won’t be filing one), there is no need to file one solely to declare the share transactions, assuming the profit and loss cancel each other out.
> What if my losses weren’t enough to offset my gains?
When you file a tax return you will be told how much extra tax you need to pay.