Can I balance long term ESPP loss in India against long term capital gain in US?
Posted: Thu Dec 28, 2017 4:20 pm
Hello,
I have searched the forums to try to find an answer to this particular situation, could not find anything related, except this one, which is the opposite case, i think. Appreciate a quick answer as I am trying to sell some underperforming ESPP stock (which is provided though the Indian entity of the US-based MNC that I work for). Since this ESPP was funded through my India paycheck, I assume the loss will be shown in India. I do have some stocks in my US trading accounts that have LTCG. In the past, I used to do the tax loss harvesting thing occasionally for US stocks, to balance out gains and losses. Is there any way to balance this ESPP loss against some gain in the US, in terms of saving taxes? Something tells me that would be too good to be true, but thought to check.
Overall, a lot of my US stocks will show minimal gains or even a loss after indexation is applied in India, as I've held some of them for nearly 10 years or more. Is there any tax benefit by selling those stocks (I assume any sales in the US will have to be taxed there). If the indexation shows a loss, will it reduce my taxable income in India?
This is a bit urgent, since tomorrow is the last day to sell any US stock. I've already taken the ESPP loss.
Thansks!
I have searched the forums to try to find an answer to this particular situation, could not find anything related, except this one, which is the opposite case, i think. Appreciate a quick answer as I am trying to sell some underperforming ESPP stock (which is provided though the Indian entity of the US-based MNC that I work for). Since this ESPP was funded through my India paycheck, I assume the loss will be shown in India. I do have some stocks in my US trading accounts that have LTCG. In the past, I used to do the tax loss harvesting thing occasionally for US stocks, to balance out gains and losses. Is there any way to balance this ESPP loss against some gain in the US, in terms of saving taxes? Something tells me that would be too good to be true, but thought to check.
Overall, a lot of my US stocks will show minimal gains or even a loss after indexation is applied in India, as I've held some of them for nearly 10 years or more. Is there any tax benefit by selling those stocks (I assume any sales in the US will have to be taxed there). If the indexation shows a loss, will it reduce my taxable income in India?
This is a bit urgent, since tomorrow is the last day to sell any US stock. I've already taken the ESPP loss.
Thansks!