RetireJapan

Hi guys,

I always appreciate the knowledge you all share. I thought this question would have been asked before but I couldn't find any hits on my searches so I apologise if it has been answered already.

I'm carrying a loss on an off-shore investment fund from 3 years ago. I want to sell another similar fund that's in profit to awash the gain it currently has. I know I need to finalise this before the year's end or I'll lose the ability to write off the gain with the previous loss.

This is the delema, I don't really want to sell, so I wonder if it is possible to sell and then repurchase on the same day. I don't know if the fund is accepting of this, and it'll probably cost me 1% or so in the difference of the buy/sell rate. I just want to claim the gain to write off the previous loss. Most other countries don't accept this practice unless you leave the repurchase for a month or so. How does the NTA judge this?

Many thanks for viewing my post.

This was discussed in another thread the other day.

See my comment here, and subsequent responses

viewtopic.php?p=26840&hilit=tax+loss+harvest#p26840

Tkydon wrote: ↑Mon Dec 19, 2022 3:14 am This was discussed in another thread the other day.

See my comment here, and subsequent responses

viewtopic.php?p=26840&hilit=tax+loss+harvest#p26840

Thank you Tkydon. I read though the link but it didn't really answer my question. I already have a tax loss and wish to use that against a gain I'm carrying for this year. What I want to know is can I sell the gain, then repurchase immediately or do I need to wait for a period?

viewtopic.php?p=27422#p27422

According to the man at the Tax Soudan Center Telephone Hot line in English at 03-3821-9070, there is no such rule in Japan. (In US, it's 30 days...)
You can sell the shares of Company A in the morning, realize the tax loss, or gain, for Tax Loss Harvesting, and repurchase the same shares of Company A in the afternoon with no restriction...

Tkydon wrote: ↑Mon Dec 19, 2022 5:33 am viewtopic.php?p=27422#p27422

According to the man at the Tax Soudan Center Telephone Hot line in English at 03-3821-9070, there is no such rule in Japan. (In US, it's 30 days...)
You can sell the shares of Company A in the morning, realize the tax loss, or gain, for Tax Loss Harvesting, and repurchase the same shares of Company A in the afternoon with no restriction...

Cheers again Tkydon. That's what I've heard also...I'll read through the link you attached.