Netting of gains and losses from certificates
July 1, 2012 | 25,00 EUR | answered by Dr. Yanqiong Bolik
In 2008, I bought oil certificates. In 2011, I sold a portion of them at a loss (approx. 1400€) and in 2012, I sold the rest at a profit (approx. 6000€). Can I offset the loss from 2011 against the profit from 2012 to reduce my tax liability?
If yes, what do I need to declare or submit in my tax returns and in which forms? (My gross income: approx. 42,000€, interest income: approx. 5,000€, no other income)
Dear inquirer,
Thank you for your inquiry, which I will gladly answer taking into account your input and the rules of this platform.
Please note that my explanation is based on the facts presented, and that adding, omitting, changing information, or ambiguity in the information can change the tax result.
If your petroleum certificates are considered financial innovations and were acquired in 2008 (before 01.01.2009), they are not subject to the capital gains tax. With a purchase in 2008 and a sale in 2011 or 2012, your holding period is more than one year. Therefore, both sales are not considered private sales according to § 23 EStG a.F. Consequently, the losses and gains are not to be taken into account for income tax purposes.
I hope I was able to assist you.
If there are still any uncertainties, please feel free to use the follow-up function.
Best regards,
Dr. Yanqiong Bolik
Tax advisor
Bildstöckle 6, 70567 Stuttgart
Tel: +49 (0)711 / 2132 1815
Email: info@zdbz.de
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