If so, is there any time limit on my using up the tax losses on the property? The good news, if you can call it that, is that there is provision to offset losses against gains in order to reduce your tax bill. Well, you hold on to it and set it against any other capital gain you make this year from the sale of any other assets. If it is not fully offset by the end of the year, you carry it forward to offset against gains next year and beyond. The loss remains outstanding until you have made sufficient capital gain to full offset the €40,000 loss on your property investment.

Source: The Irish Times May 13, 2018 15:56 UTC