German investment losses — share losses, derivatives and carry-forward
Investment losses offset investment income only, never salary or rent. Losses on selling shares reduce only gains on selling shares. The former EUR 20,000 caps on derivatives and bad-debt losses no longer apply in any open case.
2026 rules — verified on September 21, 2026Free, no account
This content is part of the path: Taxing and declaring investment income· Step 5 of 7· Next step: German investment income: flat tax or personal rate? (Günstigerprüfung)
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Sources and assumptions
- gesetze-im-internet.de — EStG § 32d Abs. 1 Satz 1 — tax year 2026, verified on September 21, 2026
Excerpt from the source : « Die Einkommensteuer für Einkünfte aus Kapitalvermögen, die nicht unter § 20 Absatz 8 fallen, beträgt 25 Prozent. »
- gesetze-im-internet.de — EStG § 20 Abs. 9 Satz 1 — tax year 2026, verified on September 21, 2026
Excerpt from the source : « Bei der Ermittlung der Einkünfte aus Kapitalvermögen ist als Werbungskosten ein Betrag von 1 000 Euro abzuziehen (Sparer-Pauschbetrag); der Abzug der tatsächlichen Werbungskosten ist ausgeschlossen. »
- gesetze-im-internet.de — EStG § 20 Abs. 9 Satz 2 — tax year 2026, verified on September 21, 2026
Excerpt from the source : « Ehegatten, die zusammen veranlagt werden, wird ein gemeinsamer Sparer-Pauschbetrag von 2 000 Euro gewährt. »
Calculation assumptions
- The statute ring-fences the types of loss but sets no order. The calculator first sets share losses against share gains, then other losses against other income and afterwards against share gains, and the year's own losses before any carry-forward.
- Losses subject to withholding tax are assumed to be backed by the bank certificate under § 43a (3) sentence 4 (§ 20 (6) sentence 5); losses already netted by the bank are excluded from the amounts entered.
- The flat tax is shown without the solidarity surcharge or church tax.
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This result is provided for information purposes only and does not constitute personalised tax advice. Check your situation with the tax authorities or a professional.