# IR833 Step 2 - identify the scenario that applies to your sale(s)

Identify the scenario that applies to your sale(s) in the table below, and work out what amount to show in the “Other income” box of your tax return (e.g. Question 24 in the IR3 Individual tax return).

If

and

then

Total 1 + total 2 = profit

you don’t have other income to declare

show the profit amount in the “Other income” box.

you have other income to declare

add the two amounts together and show the result in the “Other income” box.

Total 1 = loss and total 2 = loss

you don’t have other income to declare

show only the total 2 amount in the “Other income” box (loss from total 1 is not added to total 2).

you have other income to declare

add total 2 amount to the other income amount and show the result in the “Other income” box (loss from total 1 is not added).

Total 1 = loss and total 2 = profit

you don’t have other income to declare

deduct total 1 from total 2. If answer is:

• a loss or zero, show 0 in the “Other income” box

• a profit, show that amount in the “Other income” box.

you have other income to declare

deduct total 1 from total 2. If answer is:

• a loss or zero, show only the amount of your other income in the “Other income” box

• a profit, add this amount to your other income and show the result in the “Other income” box.

Total 1 = profit and total 2 = loss

you don’t have other income to declare

deduct total 2 from total 1 and show the result in the “Other income” box.

you have other income to declare

deduct total 2 from total 1, then add to your other income amount and show the result in the “Other income” box.

Total 1 = loss
(no total 2 as no other property sales)

you don’t have other income to declare

show 0 in the “Other income” box.

you have other income to declare

show the other income amount only - do not deduct total 1 from the other income.

Total 2 = loss
(no total 1 as no bright-line property sales)

you don’t have other income to declare

show the loss amount from total 2.

you have other income to declare

add total 2 to your other income and show the result in the “Other income” box.

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