In Germany,Is there a limit to losses that can be carried over to the following tax year?

[h312]

The details of the tax report looks like this.

Kapitalerträge, die nicht dem inländischen Steuerabzug unterlegen haben

1. Inländische Kapitalerträge €1,866.04
2. Ausländische Kapitalerträge ??
3. In den Zeilen 18 und 19 enthaltene Gewinne aus Aktienveräußerungen (i.S.d. § 20 Abs. 2 Satz 1 Nr. 1 EStG) €14,600
4. In den Zeilen 18 und 19 enthaltene Einkünfte aus Stillhalterprämien und Gewinne aus
   Termingeschäften €120,500
5. In den Zeilen 18 und 19 enthaltene Verluste ohne Verluste aus Aktienveräußerungen -€150,800
6. In den Zeilen 18 und 19 enthaltene Verluste aus der Veräußerung von Aktien (i.S.d. § 20 Abs. 2 Satz 1 Nr. 1 EStG) -€4,596.74
7. Verluste aus Termingeschäften -€150800

Also,
What would be the foreign capital gains subject to tax ,in this scenario? Thanks!

 

[cornesmit]

@h312 You should ask in r/finanzen

 

[h312]

@cornesmit Thanks! Will do

 

[phriend]

@h312 You should really format that post properly, it’s totally incomprehensible.

To keep it somewhat short:

No limit for ETFs and other funds

No limit for losses from single stocks, but the losses can only be offset with gains from single stocks, not funds etc.

Limit of 20k € offset per year for

• Termingeschäfte („CFDs, Optionen, Swaps oder Forwards“): additionally, these can only be offset with gains from Termingeschäfte
• losses from irrecoverable claims (loans etc.) or stocks that were booked out worthless: those can be offset with all types of capital gains

 

[h312]

@phriend Formatted the post . Can you please have a look again?Thanks!

 

[phriend]

@h312 What’s with the question marks? That would be the important part. Anyways, I would recommend consulting a Steuerberater as soon as possible, in case you reside in or are otherwise taxable in Germany.

Not sure why those capital gains are filed under numbers 18 and 19 (= not subject to domestic tax withholding)
My best guess would be you are not registered in Germany or you used a foreign broker.

Those are some hefty sums.
Filing your taxes would definitely be mandatory in your case, and also necessary to carry over the losses that can’t be offset.

No. 24 is especially problematic. Offset is capped at 20k € per year. Subtract that from no. 21, that leaves you with about 100k € „gains“, even though in reality we‘re looking at a loss of 30k € for those positions. So that would amount to a tax of about 25k € plus 130k € losses that can be carried over.

As I already mentioned, consult an expert. There is a pending case before the German constitutional court, which could deem these limitiations unconstitutional. There are some legal intricacies that can keep your case open via appeal and potentially stall the tax payment until then.

 

[h312]

@phriend You are right. I used a foreign broker. The‘ ?? ‚ came with a hefty sum like you mentioned and I‘m getting in touch with a tax consultant immediately

 

[h312]

@phriend Any update on the case thats in the court? A reference article would also be helpful

 

[phriend]

@h312 There aren’t any news and I wouldn’t count on the court making any decision in the near future. It’s not really predictable how long it will take.

Here and here are links that should be updated, if there is any news.

Note that this court case only concerns the Verluste aus Aktienveräußerung. There is already a general Vorläufigkeitsvermerk for that, meaning if the law is deemed unconstitutional, the Bescheid gets changed automatically.

For the Verluste aus Termingeschäften on the other hand you need to keep the case open after filing the taxes. This could be tried by Ruhen des Verfahrens (§ 363 AO)

Thing is, in this case you would still have to pay the tax and only get it refunded once the case is decided. So additionally there could be the potential to apply for Aussetzung der Vollziehung (§ 361 AO), which would stall the payment. Not sure about the chances for both of those tho.

 

[h312]

@phriend Thanks for the explanation!Does this mean that there is an independent case concerning Verluste aus Terminegeschäften? Or should I be opening one?