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A client of ours received an inheritance from her mother for 100 acres, valued in the boom years at €2m as possible small part development potential.
The land is mainly agricultural land. However, the land has recently been sold by the individual.
Since they received the land from their mothers inheritance a number of years ago, they have returned their rental income on same.
The land has now been sold for €1.1m, so my understanding is that there is no Capital Gains Tax as the land has been sold at a loss, compared to the original value when it was transferred which we have the auctioneers valuation for same.
My question is, of the €900,000 then, are they entitled to utilise that Capital loss for Capital Gains going forward.
Thanks in advance.

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Posted by (Questions: 33, Answers: 23)
Asked on 26 September 2017 12:19 pm
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