Offsetting of losses from leveraged products
January 30, 2012 | 30,00 EUR | answered by Dr. Yanqiong Bolik
Good evening everyone,
Let's assume that someone realized a loss in trading leveraged products (such as certificates, options on the Dax) in 2011 and 2012 (the trade was also entered into in 2011). In addition, a property was sold at a profit in 2011 (within the speculation period of 10 years).
I have found the following information on this:
Losses from stock sales can only be offset against gains from stock sales, not against your other positive capital gains such as interest and dividends (§ 20 para. 6 sentence 5 Income Tax Act). However, this does not apply to losses from the sale of shares in stock funds, certificates on a stock index, CFDs on stocks, and participating certificates. These losses can be offset against all positive capital gains, which is an improvement compared to the legal situation until the end of 2008.
It is correct that the losses incurred from the futures trading can be offset against the gains from the private sale of assets, right? Which specific section in the Income Tax Act is the basis for this?
Thank you in advance for your help.
Dear inquirer,
Thank you for your inquiry, which I will be happy to answer taking into account your contribution and the rules of this platform.
Please note that my explanation is based on the facts presented, and that adding, omitting, changing information, or the ambiguity of the information can alter the tax result.
Offsetting of losses according to § 20 para. 6 EStG determines that positive income from capital assets within the meaning of § 20 para. 2 EStG (capital gains) can be offset with old losses (stock sale losses from private sales transactions within the meaning of § 23 EStG in the version applicable as of December 31, 2008) until the assessment period 2013.
However, capital gains losses cannot be offset with income from other types of income (§ 20 para. 6 sentence 2 EStG). Therefore, gains from real estate sales in 2011 cannot be offset with capital gains losses.
I regret to inform you that there is currently no possibility under the current legal situation to offset capital gains losses with gains from real estate sales transactions.
I hope that, given your contribution, I was able to provide you with insight into the issue.
If there is still any uncertainty, please feel free to use the follow-up function.
Best regards,
Dr. Yanqiong Bolik
Tax consultant
Bildstöckle 6, 70567 Stuttgart
Tel: +49 (0)711 / 9332 2657
Email: info@zdbz.de
www.steuerberatung.zdbz.de
