Abgeltungsteuer: Wie Verluste aus Kapitalanlagen verrechnet werden

1. Wie Verluste ermittelt werden

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Schadenersatz oder Kulanzerstattungen

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2. Wie Verluste von den Banken verrechnet werden

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a) Was Sie zum "Verlustverrechnungstopf" wissen sollten

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Überblick: Verlustverrechnung bei den Banken

b) Wie die Verlustverrechnung bei den Banken erfolgt

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c) Was mit einem negativen Verlustsaldo am Jahresende passiert

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Verlustbescheinigung bei Beendigung der Geschäftsbeziehung

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Verlustbescheinigung bei Tod des Kunden

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d) Besondere Regelung beim Aktien-Verlustverrechnungstopf

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e) Verlustverrechnung bei Ehegatten

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f) Beschränkung der Verlustverrechnung bei wertlosen Papieren

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• xxx xxx xxxxxx xxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx,
• xxx xxx Xxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxx x XXxX,
• xxx xxx xxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxxxx x XXxX xxx xxxxx Xxxxxxx,
• xxx xxxxx xxxxxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxx x XXxX.

Xxxxxx Xxxxxxxx xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxx xxx xx.xxx XXX xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xx Xxx. x Xxxx x xxx x XXxX, xxxxxxxxxx xxxxx xxx "Xxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx"x xxxxxxxxx xxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx"x.

• Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx xxx xx Xxx. xx Xxxx xx XXxXx.
• Xxxxxxxxx Xxxxxxxx xxxxxxx xxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.
• Xx xxxxxxxxx x xxx xxxxx xx Xxxxxxxx xxx Xxxxxxxxxxxx x xxxxxxxxxxx, xxxxxxxxx Xxxxxxxx xxx xxxxx xxxxxxxxxx Xxxxxx xxxxxxxxxx xxxxxxxxxxxx. Xxx Xxxxxxxx xxxxxx xxxxxxx xxxxx xxxxxxxx xxxxxxx, xxxxxxx xxxxxxxx xxxxxxxxx. Xxxxxxxx xxx xx xx.xxx XXX xxxxxxx xxxxx xx Xxxx xxx Xxxxxxxxxx xxxxxxx xxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxx Xxxxxxxxxxxxx xxxxxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxxxx xxxxxxxx.

XXXXXXXXX: Xxxxxxxxx xxxx xxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxxxxx Xxxxxx xxxxxxxxxxxxxx xxxxxxxxx, xxxxxxx xxxxxxxxxx xxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xx Xxx. x Xxxx x XXxXx.

XXXXXXX: Xxxxxxxx, xxx xxx xxx xxxx xxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxx xx xx Xxxxxx x Xxxx x xxx x XXxX Xxxxxxxxx xxxxxx, xxxxxxx xxxxx xx xxx Xxxxxxxxxxx xxxx xxxxxxxx Xxxxxxxx xxxx xxx xxxxxxxxxx Xxxxxxxxxxx xxxx Xxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx. Xxx Xxxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxx xxxxx.xxxxxxXx xxxx xxxx xxxxxxxxx xxxxxx. Xxxxxxxxx Xxx xxxx xxxxx xxxxxx, xxxx Xxxx Xxxxxxxxx xxx Xxxxxxxx xxxxxxxxxx!xxxxxxXxxxxxxx: Xxxx xxx Xxxxxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxxxx xxxxxxxxxx Xxx xxxxxx Xxxxxx xxx Xxxxx Xxxx xxx Xxx xxxxxxx xxxxx xxx Xxxxx "xx. Xxxxxxxx" xxx xxxxxxxxx Xxxxxx" xxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxx, Xx. xxxx, xxx, xxxx.

XXXXXXX: Xx Xxxxxxxxxxxxxxxxxx xx xxxxxxxxx: Xx xxxx xx xxx xxxxxx Xxxxxxxxxxxxx xxxxx xx xxxxxxxxxx Xxxxxxxxxxxx xxx Xxxxxx, xxxxxxx xx xxx xxxxxxxx xxxxxxxxxxxxx Xxxxxxxxxxxxxx, xxxxxxx xxxxxxxx xxxxx Xxxxxxxxx xxx XX. Xxxxxxxxxx Xxxxxxxxxxxx xxxxxx xxx Xxxxxx xx Xxxxxxxxxxxxxxx xxxxx xxxxxxxxxxxxxxx. Xxxx Xxxxxxxx xxx xxxxxxxxxx xxxxxxxxx xxxxxx, xxxxxxxx Xxx xx xxx Xxxxxxx xx. xxx xx. xxxxxx Xxxxxxxxx. Xxxxx xxx xxxxxx xxxxxxxxxxx, xxxx xx xx Xxxxxxxxxxx xx Xxxxxxxxxxxxxxx xxxx. Xxxx Xxxxxxxxxxx xx Xxxxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxxxxx xxxxxxxxxxx Xxxxxxxxxx

3. Wie Verluste in der Steuerveranlagung verrechnet werden

Xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxxxxx xx xxxxxxxxx Xxxx xxxxxxxxxxx xxxxxxxxxx. Xxxxxxxxxx xx Xxxxxxxxxx xxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxxxxxx xxxxx xxxxx xxx xxxxxxxxx Xxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxx xxxxxxx xxxxx xx xxx Xxxxxxx xxxxxxxxxxxxxxx xxxxxx, xxxxxxx xxx xx xxx xxxxxxxxxx Xxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxxxxxxxx xxx xxxx xxx Xxxxxxxxxxxxxx xxxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxx xxxx xxxxxxxx xxxxxxxxxx xxx xx xxxxxxxxxxxxxxx Xxxxx xxx xx Xxx. x XXxXx.

XXXX xxxxxxxxx xxxx xxxx xxxxx: Xxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxx xxx xxx xxxxxxx Xxxxxxxxxx xxxxxxx xxxx, xxx xxx Xxxxxxxxx xxxx xxxx xxxxxxxx. Xx xxxxxx Xxxxx xxxxxxx Xxx xxx Xxxxxxxxxxxxxxx xxxxxxx xx xxx Xxx. x XXxX xxxxxxx xxx xxx Xxxxxxxxxxxxxxx xx xxx "Xxxxxx XXX" xxxxxxx, xx xxxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxx xxxxxx Xxxxxxx Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxx xx xxxxxxxxxx Xxxxxxxx. Xxxxxxxxx xxx xxxxxxxxx xxxx Xxxxxxxxxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx. Xxxxxxxxx xxx xxxx xxxxx xxxxxxxx.

XXXXXXXXX: Xxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxx xx xxxxxxxxxx Xxxxxxx xxx xxxxxxxxx Xxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxx xxxx xxxx, xxxx xxx Xxxxxxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxx xxxxxxx xxxxxx Xxxxxxx Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxxxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxxx.

Xxx Xxxx xxxx xxxxx xxx Xxxxxxxxx xxxxx xxxxxxxxxxxx Xxxxxxxxxxxxxx xxxx xx xx Xxx. x XXxX xxxxx xxx xxxxxx xxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XxX xxxx, XXxXx. xxxx XX X. xxxx. Xxxxx Xxxxx xx.

Xxxxxxxx Xxxxxxxxxxxxxxx xxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxx xxxxxxx xxxxxxxxx xxx xxx Xxxx xxx xxx Xxx. x XXxXx. Xxx Xxxxxxxxxxxxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxx xxx Xxxxxx xxx xxxxx xxxxxxxxx. Xxxxx Xxxxx x.

Xxx Xxxxxx xxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxx xxx xxxxxxxxx Xxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxxxx xxx Xxxxxx xxx. Xxxxxx xxxxxx xxx xxxx xxxxx Xxxxxxx xxxxx xxx. xxxxxxxxxx "Xxxxxxxxxxxxxxxxxxxxxxx". Xxx xxx Xxxxx xxx Xxxxxxxx xxxx xxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxx xxxx xxxxxxx xxxxxxxxxxxx Xxxxxx xxxxxx xxxxxxxxx. Xxxxx xxxxxxxx xxxxxx xxx Xxxxxx xxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxxx, xxx xxxx xxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xxx xxxxx XxxxxxxXxxxxxxxxxxxxxxxxxxxxxx xxxxxxxx xxxx Xxxxxxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxx.

Xxxx xxx xxxxx Xxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxx xxxxxx xxx xxx xxxxxxxxx Xxxxxxxxxxxxxxx, xxxxx Xxx xx Xxxxxxxxxx xxxxxxxx Xxxxxxxxxxxxxx:

• Xxx Xxxx xxxx xxx xxxxx xxxxxxxxxxxxxx Xxxxxxx xxx xxx xxxxxxxx Xxxx xxxxxxxxxxx, xx xxxxxxxx xxxxxxxx Xxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxx xxxxxxxxx xx xxxxxxx, xxx. Xxxxxxxxxxxxxxxx.
• Xxxxxxxxxxx xxxxxxx Xxx xxxx xxxxxxxxxx, xxxx xxx Xxxx Xxxxx xxxx Xxxxxxxxxxxxx xxxxx xxx xxxxxxxxxxxxx Xxxxxxx xxxxxxxxx. Xxxx xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxx Xxxx xxxxxxxx. Xxx xxxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxx Xxx xxx Xxxxxxxxxxxxx xxxx xx Xxxxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxx xxx xxx. xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxx Xxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xxx Xxx. x Xxxx x xxx x XXxXx.

XXXXXXXXX: Xxxxx Xxx xxxx xxxx xxx xxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxx, xxxxxxx Xxx xxx Xxxxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxx xx. Xxxxxxxx xxxxxxxxxx. Xxxxxx Xxx xxx xxxxx xxxxxxxxxxxxx xxxx xxxxx xxxxxxxxxxxxxx Xxxxxxxx xx xxx "Xxxxxx XXX" xx Xxxxx xxxxx xxx x xxxxxxxx xxxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxx xxx xxxxxxx Xxxxxxx. Xxxxx Xxx xxxx xxx xxxxxxxxxxxxx Xxxxxxx xx Xxxxx xxxx xx. Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx, Xxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxx xxx xxxxx Xxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx.

Xxx xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxx Xxx xxx Xxxxxxxxxxxxx xxxx xx Xxxxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxx xxx xxx. xxx xxxxxxxxx Xxxxxxxxxxxxxxxx, xxx Xxx xxx xxxxx xxxxxxx Xxxx xxxxxxx xxxxx, xxxxxxxxxx xxxxxx xXxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxx xx xxxxxxxxxx Xxxxxxx xxxx xx xxx Xxx. x XXxXx. Xxxxxx xxxxxxxxxx Xxx xxxx xxxxxxxxxx xxxx xxxx Xxxxxxxxxxxxxxxxxxx xxx xxxxxxx Xxxx. Xxxxxxx Xxxxxxxxxxxxxxxx xxxxx Xxx xxxx xxx Xxxxxxxxxxxx,

• Xxxxxxxxxxxxx xxx xxx Xxxxx xxx xxx xxxxx Xxxx xxx Xxxxxxxxxxxxxxx xxx xxx Xxxxx xxx xxxxx xxxxxxx Xxxx xx xxxxxxxxxx xxx xx xx xxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxx xxxxxxxxx xx xxxxxxxx.
• xxxxx xxxxxxxxxxxxx Xxxxxxx xxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xx Xxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxxx, xxx xx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx xxxxxxx, x.X. Xxxxxxxx xxx Xxxxxxxxxxxxxx xx Xxxxxxx, xxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxx, xxx Xxxxxxx xxx XxxXxXxxxxxxx, xxx Xxxxxxxxxxxxx xxxxx xxxxxxx Xxxxxxxxxxx, xxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx. Xx xxxxxxx Xxx xxxx xxx Xxxxxxxxxxxxxxx xxxxxxx Xxxxxxxxxxxxxx xx xxx Xxxxxxxxx xxxxxx.

Xx xxx Xxxx, xx xxx Xxx xxxx Xxxxxxxxxxxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxx, xxxxxx xxx Xxxxxxxx xxx Xxxxxxxx xxx xxxxxxxxx Xxxxxxxxx xxxxxxxxxx. x xxx xxxx xxxxxxxxx. Xxxx xxxxxx xxxxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxx. Xxxx xxxx xxx xxxxxxxxx Xxxxxxxx xxxxx xxxxxxxxxx xxxxxx xxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxx, xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxx.

Xxxx xxxxxxx xxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxx xXXXx.

a) Reihenfolge der Verlustverrechnung

Xxx Xxxxxxxxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxx xxx xxxxxx xxxxxx xxxxxxxxxxx xxxxxxxx, xxx xxxxx xxxx, xxxx xxxxxxxxx Xxxxxxxx xxx xxx Xxxxxxxx xxx xxxxxxxxxxxxxxxx xxxx xxxxxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx xxxxxxx, xxxxxxxxxxxx Xxxxxxxxxxxxxx. Xxx xxxx xxxxxx xxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxx xxxxx xxx Xxxxxxxxxxxxx xxx xx.xxx XXX xxxx xxxxxxx Xxxxxxxx, xxxxxxxxxxxx xxxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxxx xxx Xxxxxx xXxxxxxxxx, Xxxxxxxxxxxxxxxx xxx. xxxxxxxxxxx Xxxxx xx.xxxxxxx

Xx xx Xxxxxx xxx Xxxxxxxxxxx xxxx Xxxxxxxxxxx xxx xxx. Xxxxxxxxxxxx xxxxxxxxxxxxxx, xxxxxxx Xxx xxxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxx, xx xxx xxx xxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxx xx xx Xxx. x XXxX xxx xxx xxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxx Xxxxxx xxxxxxxxxxx xxxx.

b) Steuerbescheinigung

Xxxx Xxxxxxxxxxxxxxx, xxx xxx Xxxxxxxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxxxx xxx. xxx xxxxxxxxxxx Xxxxxx xxxxxxxxxxxx, Xxxxx "xxx Xxxxxxxxx" xxxx Xxxxxxxxxxxxxxxxxxx xxxx xxxxxxx xxxxxxxxxxxxxxxx Xxxxxx xxxxxxxxxxxx. Xxxxx xxxx xxxx xxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxxxx Xxxxx xxxxxxxxx xxx xxx Xxx. x XXxXx. Xxxx xxxxxx Xxxxxxxxxxxxx xxxxxxxxxx Xxx, xxxx Xxx Xxxx Xxxxxxxxxxxxxxx xxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxxx xxxx xxxxxx.

Xxxxxxx Xxxxxxxxxxxxx:

• Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxx xx xxxxxxxxxx Xxxxxxx
• Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxxxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxx

Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxx xxx XXXxXxxxxxxxx xxx xx.xx.xxxx xXXxXx. xxxx X X. xxx.

Xxxxxxx Xxxxxxxxxxxxx: Xxxxxxxxxxxxxxx: Xxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxx.

c) Freibetrag in den ELStAM

Xxx Xxxxx xxx, xx xxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxx xx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xXXXxXXx xxxxxxxxxxx xxxxxx xxxx. Xxxx xxxx xxxxxxxx Xxxxxxxx:

• Xxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xx Xxxxxx xxx XxxxxxxxxxxXxxxxxxxxxxxxxxxxxxxxxx xxxxx xxxx xxxxxxxxxxxxxxx xxxxxx, xxxxxx xxx xxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxx xx xx Xxx. x Xxxx x XXxX xxxxxx. Xxxxxxxxxxxxxx xxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx, xxx xxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx, xxxxx xxxx xxx xxxxxxx Xxxxxxxxxxxxxx, xxxxxxxxxx xxxxxx.
• Xxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxxxxxxxxx xxx xxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx, xxxx Xxxxxxxxxxxxxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxxx xxxx: xxxxxxxxxxxxxx xxx Xxxxxxxx xx xxxx Xxxxxxxxxxx, Xxxxxxxx xx xxx xxxxxx Xxxxx, XxxxxxxxxxxxxXxxxxxxxxxxxxx, Xxxxxxxxxxxxxxxxxxxxxxx xxx xxxxxxXxxxxxxxxxxxxxxxxxxx.
  Xxxx xxxx: Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxx

d) AKTUELL: Sonderfall Ehegatten

Xx Xxxxx xxxx xxx xxx XXX xxxxxxxxxxx, xxxx xxxxx xxxxxxxxxxxxx Xxxxxxxx xxxxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxx xx Xxxxxx xxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx xxxxxxxxxxx Xxxxx xx Xxxxx xxx xxxxxxxxxxx Xxx. x XXxX xxxxx xxxxxxxxxxxxxxxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxx xxxxxxxxxx xxxxxx xxxxxxx. Xxxx Xxxxxxx xxx XXX xxxxxxx xx xxxx xxxx xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xx xxxxx Xxxxxxxxxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx.

XXXXXXX xxxxx xxx Xxxxxxx xxx "Xxxxxxxxxxxxxxxxxxxx xxxx" xxxx xxxx xxxxxxxxxxx Xxxxxxxx xxxx xxx xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxx. Xxxxx xx xxx Xxxxxxxxxxxxxxxxxxxx xxxx xxxx xx xxxx xxxxxxxx xxxx, xxxx xxx xxxxxxxxxxxxx xxxxx xxxxxxxxxxxxxx Xxxxxxx xxxx xxx xxxxxxxxxx Xxxxxxxxx xxx xxx xx.xx. xxxxxxxxx xxxxxxxxxxxx xxxx xxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxx xxxxxxxxxx xxxxxx xxxx
xxx xx Xxx. x Xxxx x XXxXxxxxx.

e) Beschränkung der Verlustverrechnung bei wertlos gewordenen Wertpapieren

Xxxx Xxxxxx xxxx xx xxxx Xxxxxx xxxxx xxx Xxxxx, xxx xx xxx Xxxxxxx xxxxxxxxx, xx xxxxx xxxx Xxxxx xxxx xxxx xxxxxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxxxx xxx xxx xxx xxx Xxxxx xxxxxxxxxx xxxx.

• Xxx Xxxxxxxxxxxxxxxx xxxxxx Xxxxxxxx xxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxxxxxxx xxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxx xxx xxxxx xxx Xxxxxxxxxxxx xxxxxxxxxx xxxxx xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx xxxx X X. xxx, Xx. xxx.
• Xxx Xxxxxxxxxxxxxxx xxxxx xxxxxxxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, x.X. xxx xxxxxxxxxxxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxx xx xxx xxxxxxxx Xxxxxxxxxxxxxxxxx, xxx Xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx. Xxxx Xxxxxxxxxx xxx Xxxxxxx xxxxxxx xxxx xxxx xxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx, xxxxxxx xx xxxxxxx xxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxx x xxxx xxxx Xxxxxxxxxxxxxxxxxxxxx x xxxxxxxxxxxxxxx xxxxxx.

Xxxxxxxxx xxx xx xxx x.x.xxxx xxxx Xxxxxxxxxx xxxx xxx Xxxxxxxxx xxx Xxxxxxxxx xxxxxxxxxxx xxxxxx, xxx xxxxxxxxx

• xxx xxx xxxxxx xxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx,
• xxx xxx Xxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxx x XXxX,
• xxx xxx xxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxxxx x XXxX xxx xxxxx Xxxxxxx,
• xxx xxxxx xxxxxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxx x XXxX.

Xxxxxx Xxxxxxxx xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxx xxx xx.xxx XXX xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xx Xxx. x Xxxx x xxx x XXxX, xxxxxxxxxx xxxxx xxx "Xxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx"x xxxxxxxxx xxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx"x.

• Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx xxx xx Xxx. xx Xxxx xx XXxXx.
• Xxxxxxxxx Xxxxxxxx xxxxxxx xxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.
• Xx xxxxxxxxx x xxx xxxxx xx Xxxxxxxx xxx Xxxxxxxxxxxx x xxxxxxxxxxx, xxxxxxxxx Xxxxxxxx xxx xxxxx xxxxxxxxxx Xxxxxx xxxxxxxxxx xxxxxxxxxxxx. Xxx Xxxxxxxx xxxxxx xxxxxxx xxxxx xxxxxxxx xxxxxxx, xxxxxxx xxxxxxxx xxxxxxxxx. Xxxxxxxx xxx xx xx.xxx XXX xxxxxxx xxxxx xx Xxxx xxx Xxxxxxxxxx xxxxxxx xxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxx Xxxxxxxxxxxxx xxxxxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxxxx xxxxxxxx.

XXXXXXXXX: Xxxxxxxxx xxxx xxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxxxxx Xxxxxx xxxxxxxxxxxxxx xxxxxxxxx, xxxxxxx xxxxxxxxxx xxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xx Xxx. x Xxxx x XXxXx.

XXXXXXX: Xxxxxxxx, xxx xxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxx xx xx Xxxxxx x Xxxx x xxx x XXxX Xxxxxxxxx xxxxxx, xxxxxxx xxxxx xx xxx Xxxxxxxxxxx xxxx xxxxxxxx Xxxxxxxx xxxx xxx xxxxxxxxxx Xxxxxxxxxxx xxxx Xxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx. Xxx Xxxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxx xxxxx.xxxxxxXx xxxx xxxx xxxxxxxxx xxxxxx!xxxxxxXxxxxxxxx Xxx xxxx xxxxx xxxxxx, xxxx Xxxx Xxxxxxxxx xxx Xxxxxxxx xxxxxxxxxx. Xxxxxxxx: Xxxx xxx Xxxxxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxxxx xxxxxxxxxx Xxx xxxxxx Xxxxxx xxx Xxxxx Xxxx xxx Xxx xxxxxxx xxxxx xxx Xxxxx "xx. Xxxxxxxx" xxx xxxxxxxxx Xxxxxx" xxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxx, Xx. xxxx, xxx, xxxx.

4. Altverluste aus privaten Veräußerungsgeschäften per 31.12.2008

Xxx xxxx xxxxxxx Xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xx Xxxxxxx xxx xxx Xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxx xxxxxxxx xxxxxx xx xxx Xxxxxxx xxxxxxxxxxxxxxx xxxxxxxx xxxxxxxx xxxxxxxxxx xx xxx Xxxxxxxxx xxxxxxxxxxx xxxxxx. Xxxxx xxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxx xxxxxxx. Xx xxxxxxx xxxx xx "xxxxxxxx Xxxxxxxxxx" xxxxxxx xx xx Xx. x XXxX xxx xx Xxx. x XXxX xxxxx.

Xxx xxxx xxxxxxxx xxx Xxxxxxxxx, xxx xxx xx.xx.xxxx xxxx xxxxx xxxxxxxxxx xxxxxx xxxxxxx xxxx. Xxxxxxxxxxxxx

XXXXXXX: Xxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxx, xxx xx xxx Xxxxxx xxxx xxx xxxx xxxxxxx xxxxxx, xxx xxxxxxxx xxxxxx xxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxxxxxx xx xx Xxx. x XXxX xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx. xxxx X X. xxx, Xx. xxxx.

Xxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xx xxx Xxxxxx xxxx xxx xxxxxxxxxxxxx, xxxx xxx Xxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xx xxx Xxxxxx xxxxx Xxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx xxxx xxx xxx Xxxxxxxxx xxxxx xxx xxxxx xxxxxxxxxxxx Xxxxxxxxxxxxx xxxxx xxx. Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxx.

• Xxx Xxxxxxxxxxx xxx xx.xx.xxxx xxxxxxx xxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxx xx xxx Xxxxxx xxxx xxx xxxx xxxxxxxxxx xxxxxx. Xxx Xxxxxxxxxxxxxxxx xxx xxxxx xxxxxxxxxx.
• Xxx Xxxxxxxxxxx xxx Xxxxxxxxxxx xxx xxx xxxxxxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxx xxxxxxx xx xx Xxx. x XXxX, xxxxx xxxxxx xxx xxxxxxxxx Xxxxxx xxx Xxxxxxxxxx xxx xx Xxx. x Xxxx x XXxXx. Xxxxxx Xxxxxxx xxxxxxx xxxx xxx Xxxxxx, Xxxxxxxxxxxxxxxxxx, Xxxxxxxxxxxxxxxxxxxx, XxxxxxxxxXxxxxxxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxxxxxxxx Xxx X, Xxxxxxxxxxxxxxxxxxxx, Xxxxxxxxxxxxxxxxxxxxxxxxx xxx.
• Xxxxxx xx xxxxxxxx Xxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxx, xxxx xxx Xxxxxxxxxxx xxxxxxxxx xxx xxx Xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxx xx xx XXxXx xx xxxxxxxxxx xxx xxxxxxxx xxxxxx xxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxxxxxx xx xx Xxx. x XXxX xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx. xxxx X X. xxx, Xx. xxxx.

Wie die Verrechnung verbleibender Verluste ab 2014 möglich ist

Xxx xxxxxxxx xxx Xxxxxxxxxxxx, xxx xxx xx.xx.xxxx xxxx xxxxx xxxxx xxxxxxxxxx xxxxxx Xxxxxx xxx XxxxxxxXxxxxxxxxxx xx xx.xx.xxxx xxxxx xxxxxxxxxxxx xxxxxxxxxxxx xxxx, xxxx xxx xxxxxxxxxxxx Xxxxxxxxxx xx xxxx xxx xxxx xxx Xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xx xx XXxX xxxxxxxx xxxxxxxxxx xxxxxxxxxx xxxxxx. Xx Xxxxxxxx xxxxxx xxxxx Xxxxxxx xxx xxx Xxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxx xxxxxxxxx xxx Xxxxxxxxxxxxxxx xxxx xxx xxx Xxxxxxx xxx Xxxxxxx, Xxxxxxxxxxxx xXxxx, Xxxxxxx xxxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxx, xxxxxx xxxxx xxxxxxxxxx xxx XXX xxxx xxxxx xxx. x.xxx XXX xxx xxxxx xxxxxxxx. Xxxxx xxxx xxxxxxxx xxx xxxx Xxxxxxxxxxx xxx Xxxxxxxx xxx Xxxxxx xxx Xxxxxxxxxxxx xxxxx xxxx Xxxxxxxxxxx xxx Xxxxxx xxx Xxxxxxxxxx.

XXXXXXXXX: Xxx Xxxxxxxxxxx xxx xxxxx xxxxxxxxxxxxxx Xxxxxxxxxxxx xxx xx.xx.xxxx xxxx xxx Xxxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxx xxxx xxx xx xxx xxxxxxxxx Xxxxxx xxxxxxxxxxx xxxxxxxxxxx. Xxx Xxxxxxx xx Xxxxxxxxxxxxxx "Xxxxxx XX" xxx xxxx xxxxx xxxxxxxxxxxx. Xxxxxxxxxxxxx xxx xxx xxxxx, xxxx xxx Xxxxxxxxxxx xx Xxxx xxxxx Xxxxxxxxxx x xxxx xxx xxxx x xx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxxxxxxxxxx xxx xxx xxxxxxx, xxxx xxx Xxxxxxxx xx xxx Xxxxxx xxxx xxx xxxx xxxxxxx Xxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxxxx xxxxxxxxxxxx xxxxxx xxxxxxx.

5. Altverluste aus Stillhaltergeschäften per 31.12.2008

Xxxx Xxxxxxx xxxxx Xxxxxxxxxx xxxxxx xxxxx xxxx xxxxx Xxxxxxxxxxxxxx xxxxxx xxxx xxxxxxx xxx Xxxxxxxxxx xXxxxxxxxxxxx xxxx Xxxxxxxxxxxxxx. Xxxxxxxxxxxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxx xxx xxxx xxx "xxxxxxxx Xxxxxxxxxx" xxxxxxx xx xx Xx. x XXxX xxxxxxxxxxxxxxx. Xxxx xxxx xxxxxxxx xxx xx xxx "Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx" xxx xx Xxx. x Xx. xx XXxXx.

Xxxx Xxxx xxxxx Xxxxxxxxxx xxxxx xxxxx xxxx Xxxxxxxxxxxxxx xxxxx xxxx xxxx xxx Xxxxxxx xxxx Xxxxxxxxxxxxxx xxxxxx. Xxx xxxxxxxx Xxxxxxxxxxxxxx xxxxxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxx. Xxxxxxxxxxxx xxxxx xxx Xxxxxxx Xxxxxxxxxxxxxxx: Xxx Xxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx.

Xxx Xxxxxxxxxx xxx Xxxxxxxxxx xxxx Xxxxxxxxxxxxxx xxxxxxx Xxx Xxxx Xxxxxxxx xxxxx xxx Xxxxxxxxxxxxxx xxxxxxxxxxxx, xxxxx Xxx xxxx Xxxxxxxxxx xxx. Xxxxxxxxxxxxxx xxxxxxxxx Xxxxx xxx XxxxxxxxXxxxxxx xxxxxx. Xxxxxx xxxxx Xxx xxxx Xxxxxxxxxxxxxx xx xxxxxx.

Xxx xxxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxxxxxx Xxxxxxxxxxx xxx xxx xxxx xxx Xxxxxxxxxxxxxx xxx xxx "xxxxxxxxx Xxxxxxxxxxx" xxxx xx xx Xx. x XXxX xxxxxxxxx. Xxx xxxxxxxxxxxx xxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxxxxxx. Xxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxx xxxxxx xxxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxxxxxxx, xxxxxx xxx Xxxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxx xxxxxxx xXxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx.
Xxx xxxx xxxxxxx Xxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxx xx xx Xx. x XXxX xxx xx xxx Xxxxxxx xxxxxxxxxxxxx xxxxxxxx xx xxx Xxxxxxxxx xxxxxxxxx xxx xxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxx xxxxxxxxxx. Xxxxx xxx xxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxx xxx xx.xx.xxxx xxxxx xxxxxxxxxx xxxxxx xxxxxxx, xxxx Xxxxxxxxx:

XXXXXXX: Xx xxxx xxx xxxxxxx Xxxxxxxx xxx xxxx Xxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx, xxxxx Xxxxx x xxx xxx Xxx. xxx XXxXx.

Xxx xxxxxx Xxxxxxxx xxxx xxxxxxxxxxxxxx, xxxx Xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxx xxxxx xxx "xxxxxxxxx Xxxxxxxxxxx"x xxxx xxx xxxxxxxxxxxxxx xxx x Xxxxxx xxxxxxxxxx xxxxxxx, xxxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx "Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx" xxxxxxxxxx. Xxxxxx xxxxxxxxx Xxxxxxxx xxx Xxxx xxxx xxxxx xxxxxxxxxx xxxxxx xxxx, xxxxxxx xxxxx xxx xxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxx xx Xxxxx xxx xx xx Xx. x XXxX xxxxxxxxxx xxxxxx.

Xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxx Xxx xxxxxxxxxXxxxxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx.

6. Verluste aus Veräußerung von Aktien und Anleihen

Xxxxxx Xxxxxx xxxxxxxxxxx, xxx xx xxxxxxxxxxxxx, xx xxxxx xxx xxxx xxxx xxx x.x.xxxx xxxxxxxx xxxxxx xxxx:

• Xxxxxx xxx Xxxxxx xxxx xxx x.x.xxxx xxxxxxxx, xxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxx xxx xx Xxx. x Xx. x XXxXx. Xxxxxxxx xxxx xxxxxxxxxxxx, xxxxxxxxxx xxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xx Xxx. x Xxxx x XXxXx.
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• Xxxxxx xxx Xxxxxx xxx xxx x.x.xxxx xxxxxxxx, xxxxx xxxx xxx xxxx Xxxxx xxx Xxxxxxxxx. Xxxxx xxxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxxxx Xxxxxxxxxx xxx xxxxx Xxxx xxxxxxxxxx. Xxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxx xxxxxxxxxxxx xxxxxx xxx xxx Xxx. xx Xxxx x XXxXx.

Xxx Xxxxxxxxxxxxx xxx Xxxxxxxx xxxxxx xxxxxxxxx Xxxxxxxxxx:

• Xxxxx xxx Xxxxxxx xxxx xxx x.x.xxxx xxxxxxxx, xxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxx! xxx xx Xxx. x Xx. x XXxXx.
• Xxxxx xxx Xxxxxxx xxx xxx x.x.xxxx xxxxxxxx, xxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxxxx Xxxxxxxxxx xxx xxxxx Xxxx xxxxxxxxxx xxxxxxxxxx. Xxxx xxxx xxxx xxx Xxxxxxxxxxxxxx, xxxxxx Xxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxx Xxxxxxxx xxxxxxx xxx xxx Xxx. xx Xxxx x XXxXx. Xxxxxx xx Xxxx xxx Xxxxxxxxxxxxx Xxxxxxxxxxxx xxxxxxxxxxx, xxxx xxxxx xxxxxxxxxxxxxxx.
• Xxxx xxxxxxxxx Xxxxxxxx xxxx xxxx Xxxxxxxxxxxxxxxxxx: Xxxxx xxxxx xxxxxxx xxx xxxx xxx xxxxx Xxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxx, xxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxx xxx xx Xxx. x Xx. x XXxX xxxxx. Xxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxx xxxx xx xxxx xxxxxxxxx, xxxx xxx Xxxxxxx xxx xxxx xxxxxxxxxxx xxxxxx xxx.

XXXXXXX: Xxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxx, xxx xxxxx xxxxxxx xxxxxxxxxxxxx xxxxxxxx xxxxxx, x.X. xxxxxxxxxx xxxx xxxxxxxxxxx Xxxxxxx xXxxxxxxxx, XxxxxxxxXxxxxxxx, Xxxxxxxxxxxxxxxx, Xxxxxxxx xxxx Xxxxxxxxxxx xxx Xxxxxxxxxxx xxxx Xxxxxxxxxxxxx xXxxxxxxx Xxxxxx, Xxxxxxxx xxx Xxxxxxxxxxxx, xxx xxxxx Xxxxxxxxxxxx xxxxx xxxxxxxxx xxxxxxxxx xxxxxx xXxxxxxXxxxxxxxx, Xxxxxxxx, xxx xxxxx xxx Xxxxx xxx Xxxxxxxx xxx xxxxx xxxxxxxxxx Xxxxxxxx xxxxxxxx xxxxxxxxxxxxxxxxxx XxxxxxXxxxxxxxxxxx, Xxxxxxxx, xxx xxxxx Xxxxxx xx xxxxxxxxxxxxxxxxx Xxxxx xxxx xxxx xxxxxxxxxxxxxxx xxxxx Xxxxxxxxxx xxxxxxx xxxxxx xXxxxxxxxxx, Xxxxxxxxxx, Xxxxxxxxxxx, Xxxxxxxx, XxxxxxxxxxXxxxxxxxx.

Xxx Xxxxxxxxxxxxxxx xxx xxxxxxxxxxx, xxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxx xxxxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxxx xxx xxx Xxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxx. Xxxx xxx Xxxxxx xxx xx.x.xxxx xXXXX X xxxxxx xxxx xxxx xxxxxxxxxxx xxx xxx Xxxxx xxx Xxxxxxxxxxxxx xxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx. Xxxxx xxxxxx xxxx xxx XXX xxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx X xxxx, xxx. Xx Xxxxxxxxxx xxxxx xxx Xxxxxxx xx xxx Xxxxxx xxxx xxx xxxx Xxxxxx xxx Xxxxx xxx x.xxx,xxxxxxxxXXX xxxxxxxx xxx xxxxx xx Xxxx xxxx xx xxxxx Xxxxxxxxxxxxxxxxxxx xxx xxxxxxxxXXX xx xxxx Xxxxxxxxx xxxxxx xxxxxxxxxxx, xxx Xxxxxxxxxxxxxxxxxx xx xxxxxx Xxxxx xxxxxxxxxx. Xx xxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxx xxxxxx xxx Xxxxxxx xxx Xxxxxxx xx Xxxxx xxx x.xxx,xxxxxxxxXXX xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxx xxxxxxx x.x. xxx Xxxxxx xxx xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xx xxx Xxx. x XXxX. Xxx Xxxxxxxxx xxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxxx. Xxx Xxxxxxxxx xxx Xxxxxxxx xxxx xx xxx xxxxxxxxxxxx xxxxxxx. Xxx xxxxxxx xxxxxxxxxxx Xxxxx xxx xxx Xxxxxxxxxxxxx xxxxx. Xxx xxxxxx xxx XXX. Xx xxxxxxxxx, xxxx xxxx xxxxxxxxxxxx xxxxxxxxxxxx xxx x xxxxxxxxx xxxxxxxxxxxxxxxx x Xxxxxxxxx xxx xxxxx Xxxxxxx xxxx Xxxxxxxxxxxxx x.X. xxx xx xx Xxx. x Xxxx x Xx. x XXxX xxxxxxxxx. Xxxxxxx Xxxxxxxxxxxxxxxxxxx xxxxx xxx Xxxxxx xxxxx. Xxx Xxxxxxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxx xxx xxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxx xxx xxx Xxxxx xxx Xxxxxxxxxxxxx xxxx xxx xxx Xxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxx. Xxxx xxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx x.X. xxx xx xx xxx Xxxxxxxxxxxxxx xxxxxxxxx xxx XXX. Xxx Xxxxxxx xxx xxxxx xxxxx xxxx xxx Xxxxxxxxxxx xxxxxxxxxxx Xxxxxxx xxxxxxxxxx, xxxxxxx xxxxxxxxx xxx xxxxx xxx xxxxx xxx Xxxxxx xxxxxxxxxxxxx Xxxxxxxxxxxx Xxxxxxxx xxxxxxx.

Xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxxx xxxx xxxxxx Xxxxxxx xxxxxxxxx, xxxxxxxx xxxx xxx Xxxxxxxxxxx xxx Xxxxxxx xxxxxxxxx. Xxxx xxx x.x.xxxx xxxx:xxxxxxXxx Xxxxxxx xxx xxx "xxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xxx xxxxx Xxxxxxx" xxx xxx xxx xx.xxx XXX xxx Xxxx xxxxxxxxxxxx. Xxxxxxxx!xxxxxxXxx Xxxxxxxx xxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxx, xxx xx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx, xxxx xxxxxxxxxxxx xxxx xxxxxxxxxxx xxxxxx, xxxx xxxx xxx Xxxxxxxxxxxxx xxxxxxx xxxx xxxx xxxxxxxxx xxxxxxxxxx xxx xXXxXxxxxxxxxx xxxxxxxx xxx xx.xx.xxxxx.xxxxxxXxxxxxxx Xxx xxx Xxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxxx xxxxxxxxx xxxx xxx Xxxxxx xx. xxx xx. xxxxxx Xxxxxxxxx.

7. Verluste aufgrund Wechselkursänderungen

Xxx Xxxxxxxxxxxxxx xx Xxxxxxxxxxxxx xx.X. Xxxxxxxxx Xxxxxxx, XXxXxxxxx, Xxxx xxxxxx xxx xxxxxxxxx Xxxxxx xxx xxx xx Xxxx xxxxxxxxxxxxx Xxxx xxx Xxxxxxx xxxxxxxxx. Xxxx xxx xxxxxxxxxxxxXxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxxxxxxxxx xxxxxxxxxxxxxxxx

XXXXXXXXX: Xxx xxxxxxxxxxxxxx xxxx Xxxxxxx xx xxxxxxxxxxxxxx Xxxxxxxx xxxx Xxxxxx, xxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxx, xxx xxx xxx Xxxxx xxxxxxxxxxxxxxx. Xxx xxxx xxx Xxxxx xxxx xxxxxxx, xxxxxxx xx xxx xxxxxxx xxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxx.

Xxxxxxxx:
Xxx Xxxxxxx xxxxx xxxx Xxxxxxxxxxxxxxxx xx XXxXxxxxx, xxx xxx Xxxxxxxxxxx xxx Xxxxxxxx xxxxxxxxxxxxxx xxxx.

Xxxxxxxxxxxxx xxx xx xxxx xxxxx xxxx x xxx xxx xxxx x xxx Xxxxxx xxx x.xxx XXX xxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx, xxxxxxx xxx Xxxxxxx xxx x.xxx XXX xxxxxxxx Xxxxxxxxxx xxxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx. Xxxxxxxxxxxxxxxxxxxxxxx xxxx xxxx xxxxxxxx xxxxxxxxxxxxx.

Xxxx xxx Xxxxxxxxxx xxxx xx xxxx xxx Xxxxxxxxxxxxxxxx xx Xxx xxx Xxxxxxxxx xxxxxxxx xxxxxx xXxxxxxxxxxxxxxx, x. X. x XXX x x XXXx. Xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxx, xx xxx Xxx xxx xxxxxxxxxxxxx Xxxxxxxx xxx Xxxxxxxx xxxxxx xxxxxxx, xxxx xxx Xxxxxxxxxxxx xxx Xxxxx xxx Xxxx. Xxx xxxx xxx xxx xxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxx, xxxx xxx Xxxxxxxx xxx Xxxxx xxx Xxxx.

XXXXXXXXX: Xxxxxxxxxxxxxx xx Xxxxxxxxxxxxx xxx xxxxx Xxxxxxxxx xxxxxxxxxxx xx xxxx xxxxxx xxxxxxxx: Xxx xxxxx xxxxxx Xxxxxxxxxxxxxxxxxxx xxxxx xxxx xxxxx xxx Xxxxx, xxxxxxx xxxxxxxxxx xxxxxx Xxxxxxxxxxxxxxx. Xxx xxxxxxx xxxxxx xxx xxxxx Xxxxxx xxx xx x xxxxxxxx xxxxxxxxx xxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx.

Xxxxx Xxxxxxxx xxxx xxxx xxxx Xxxxxxxxxxxxxx xx Xxxxxxxxxxxxx, xxx xx Xxxxx xxxx xxxxxxx xxxxxx xxx xx Xxxxx xxxx xxxx xxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xx Xxxxxxx xxxxxxxxxxx xxxx xxxxxxxxxx xxxxxx.

Xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx, xxx xxx xxx x.x.xxxx xxxxxxxx xxxxxx, xxxx Xxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxx, Xx. xxx:

• Xxx Xxxxxx, xxx xxxxxxx xxx xxxx xxxxxxxxxxxxxxx xxx, xxx xxxx xx xxxx xxxxxxxxxxxxxxx xxx xxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx xxx Xxx. xx Xxxx x xxx x XXxXx.
• Xxx xxxxxx Xxxxxxxxxxxxxx xxx xx xxxxx xx xxxxxxxxxxx, xxxx xxx xxx Xxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxxxxxxxx xxxxxx, xxxx xxx xxxxxxxxxxxxx Xxxx xxxxxxxx xxxxx Xxxxx xxxxxxxxx.
• Xxxxxxxx xxx Xxxxxxxxxxx xxxxxx Xxxxxxxxxxx xx xxxxx Xxxxxxxxxxxxx, xxxx xxxx xxxx xxx Xxxxxxxxxxx xxxxxxxxx xxxxxx: Xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxx xx xxx Xxxxxxxxxxxxx xxxxxxxxx xxx xxx xxxx xxxxxxxxx Xxxxxx xxxx xxxx xxx xxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx. Xxxx xxxx xxxx xxx xxxx xxxxxxxxx xxxx, xxxx xxx Xxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxx xxxxxxxxxx.

Xxxxxxx Xxxxxxxxxxxxx: Xxxxxxxxxx xxxxxxxxxxxxxx Xxxxxxxxxx xx Xxxx.

8. Verluste aus betrieblichen Kapitalanlagen

Xxxxxxxxxxxxxxx xxxxxxx x xxxxx xx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx x xxxx xx xxx Xxxxxxxxxxx xxx Xxxxx xxx Xxxxxxxxxxxxxxx, xxx Xxxxxxxxxxxxxx, xxx xxxxxxxxxxxxxxxx Xxxxxx xxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxx xxxxxxxx. Xxxx xxx xxxx xxx Xxxx, xxxx xxx Xxxxxxxxxx xx xxxxxxxxxxxxxxxx Xxxxxxxxxxxx xxx xxxxxx Xxxxxxxxxxx xxxxxxx xxxxxx. Xxxx xxxxxx xxx xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxx xxx xxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xx Xxx. x XXxXx.

• Xxxxxxxxxxxxxx xxxxxxxxxxx xxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxx xx x xxxxx xxx Xxxxxx xxx xx Xxx. x XXxXx, xxxxxx Xxxxxxxxxxx xxxx xxx xxxx xxxxx Xxxxxxxxxxxxxxxxx.
• Xxxxxxxx xxxxxxx xxx Xxxxxxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx, xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxx xxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxx. Xxx xxx Xxxxxxxxxxxx xxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxxx.

Xxxxxxxx xxxxxxx xxxx xxxx xxxxxxx xxxxxxxxx, xxxx Xxxxxxxxxxxxxx xxx. Xxxxxxxxxxxxxxxx xx xxxxxxxxxxxxxx Xxxxx xxxxxxxxxxxxxxx xxxxxx, x.X. Xxxxxxxxxxxx. Xxx Xxxxxxxxxxxxxxxxxx xxxx xxxxx xxxxxxxxxxx xx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxx xxxxxxxx.

XXXXXXXXX: Xxx xxxxxxx xxx Xxxx xxxxxxxxx, xxxxxx Xxxxxx xxx "xxxxxxxxxxx" xx xxxxxxx xxxx. Xxxxx xxxxx Xxxxxxxxxx xxxxxxx, xxxxx xxx Xxxxxx xx Xxxxxxxxxxx xxxxx xxx, xxxx xxx Xxxxx xxx "xxxxxx" xxxx. Xxx Xxxxxx xxxxxxx xxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxx xxxxx "Xxxxxxxxxxxxxxxxxxxxxxxxx".

Xxxxxxxx Xxxxxxxxxxxxx xx Xxxxxxxxxxxxxxxxxxxxx xXxxxxx, XxxXxXxxxxxx, Xxxxxxxxxxxxxxxxxxxxxxx xx xxxxx Xxxxxxxxxxxxxxxxx, xxxx Xxxxxxxxx:

• Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xxx. Xxxxxxxxxxxxxxxxxxxxxxx xxx xx x, x.x. xx x xxx Xxxxxxxx xxxx xxxxxxxxxxxxxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxx xx x xxxxxxx xxxxxxxxxx.
• Xxxxxxxxxxxxxxxx xxxx xxxx Xxxxxxxxxxxx xx xx x xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxx x Xx. xx Xxxx x x.X.x. xx xx Xxx. x XXxXx.

Xxxxxxx Xxxxxxxxxxxxx: Xxxx Xxxxxxxxxxxxxxx xx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxx.

9. Verluste aus unternehmerischen Beteiligungen im Privatvermögen

Xxxxxxxx xxxxxxxxx xxxxxxx xxx xxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxx Xxxxxxxxxxxxxxx, x.X. xxxx Xxxxxx xxx XxxXxXxxxxxxx, xxxx xxx xx xxxxx Xxxxx xxxxxxxxxxxxxxx xxxx. Xxxxxx xxxx xxxxxxx xxx Xxxxxxxxxxxx xxxxx xxx Xxxxxxxxxxxxxx xxxxxxxxx xxxxxx, xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx. Xx xxxxxx Xxxx xxxx xx xxxx Xxxxxxxxxxxxx xx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxx XxxXx xx Xxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxx, xxxx Xxx

• xx xxxxxxxxxx xx x xx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxx xxxx
• xx xxxxxxxxxx x x xx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx, xxxx xxxxx xxxxxxxxx xxxxxx xxxx xxx xxxxx xxx xxxxxxxxxx Xxxxxxxxxx xxxxx xxxxxxxxxxxxx xxxxxxxxxxxxxxxxx Xxxxxxxx xxx xxx xxxxxxxxxxxxxxx Xxxxxxxxxx xxx XxxX xxxxxx xxxxxxx.

Xxx xxxxxxx xxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxxx x xxx xxx xxxxx Xxxxxxxxxxx xx Xxxxxxxxxxxxxxxxx x xx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxx xxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxx "Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx" xxxxxxxxx xxxxxx xxx xxx Xxx. x Xx. x XXxXx. Xxx xxx xxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxx x xxxx xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxx:

Xxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxx xxxxxxxxxxxxxx xxxx xxxxx Xxxxx xxx xxxx xxxxxx xxxxxx xxxxxxxx xxxxxx. Xxx Xxxxxx xxxx xxxxxxxxx xxxxxxxxxx xxxxxx, xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxxxxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx xxx Xxxxxxxxxxxx xxxxx xxxx xxxxxxxxx xxxx. Xxxx xxxxx Xxxxxxxx xxx xxxxxxxxxx xxx xxxxxxxx Xxxxxx xxx Xxxxxxxxxxx xxxx xxxxxxxx Xxxxxxxxxxx xxxxx xxxx xxxxxxxx. Xxx Xxxxxx xxxx xxxx xxx Xxxxxxx xx xxx xxxxxxxxxx Xxxxxxxxxxx xxx xxxxxxxxxxx xxxxxxxx xxxxxx. Xx xxx xxxxx xxxxxxxxx, xxx xxxxx Xxxx xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xx xxxxxxxxxx xxx xxx xxxxxxx Xxxx xxx Xxxxxxxxxxxxxxx. Xxxx xxxx Xxxxxxxxxxx xxxxxxxx Xxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxx xxxxxxxxx xxxxxx.

XXXXXXX: Xxx Xxxxxx xx xxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxx xxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxx xxx xxxxxxxxx Xxxx xx xxxxxxx xXXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxxx. Xxx Xxxxxx xxxx xxxx xxxxx xxxxxxxxxxxxx xxxxxxxx xxxxxx xXXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxxx.xxxxxxxxxxxxXxx Xxxxxxxxxxxx x xxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx x xxxx xxxxxx xxxx, xxxx xxxx xx Xxxxxx xxxxx xxxxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxxx xxxx, xxxx xxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, xxx xxxxxxxxxxx xxx Xxxxxxxxxxxxx xx xxxxxxxxxx xxx. Xx xxxxxx Xxxx xxxxxx xxx xxx Xxxxxxxxxxxxxxx, xxx xx xxxx xxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx. Xxx xxx Xxxxxxxxxxxxxxxx xxxxxx xxxxxxxxxxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxx, xxxxxxx xxxx xxxxx xxxx xxx Xxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxxxxx xx xxx XX xxxx. XxxxxxXxxxxxxxx Xxxxxxx xxxxx.

XXXXXXXXX:xxxxxxXxxXxXxxxxxxxxxxxxx xxx xxxx Xxxxxxx xxxxxxx xx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxxx xxx "Xxxxxxxxx xxxxxxxx." Xxxxxx: Xxxxxxxxxx Xxxxxxxxxxxxx xxxxxxx xxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx, xx xxxx xxxxxxxxxxx xxxxxxxxxxx xx xxxxxxx, xx xxx Xxxxxx xxxx xx xxx Xxx. x Xx. x XXxX xxxxxxxx xxx. XXXX: Xxx XXX xxxxx xxxxxx xxx, xxxx xxxx xxx xxxxxxxxxxxxx xxxx. xxxxxxxxxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxx. Xxx xxxxxx, xxx Xxxxxx xxxx xxx xxx Xxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxx xxx. xxxxxxxxxx xxxx xxx Xxxx xxxxxxxx, xxxx xxx Xxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxx xxxxxxxxxx xxxxxxx xxx xxx Xxxxxxxxxxxxxxxx xxxxx xxxxxxxxxx xxxxx. Xxxxxxxxx xxxxxx xx xxxx xxxx xx, xxxxx xxxxxxx Xxxxxx xx xxxxxxxxxxxx Xxxxxxx xxxxx xx xxxxxxx. Xx Xxxxxxxxxxxxxxxxxx xx xxxxxxxxx: Xxx xxxxxxxxxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxx xxxx xxxxx xxx xxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx. Xxxx xxxx xxxx xx xxxx xxxxx, xx Xxxxxxxxxxxxxxx xxxxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxx xxx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxx xxxxxx. Xxxxxx Xxxxxx xxx xxxx xxxxxxx xxx xxx Xxxxxx xxxx xx xxx Xxx. x Xx. x XXxX xx xxxxxxxxxxxxx x xx xxx XXX. Xxx xxxxxxx Xxxxxxx: Xxx xx xxx Xxxxxxxx xxxxx xxx Xx. x XxX xxxxxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxxx xxxxxx xxxxx xxx Xxxxxxxxxxxx xxxxxxxxxx xXxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxx x.x.xxxxx.

XXXXXXX: Xxxxxxxx Xxxxxxxxxxxxx xx Xxxxxxxxxxxxxxxxxxxxx xx xxxxx Xxxxxxxxxxxxxxxxx, xxxxxx xxxxxx Xxxxxx xxx xxxx Xxxxxxxxxxxxx: Xxxx xxxxxxxx xxxx xxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xxx. Xxxxxxxxxxxxxxxxxxxxxxx xxx xx x, x.x. xx x xxx Xxxxxxxx xxxx xxxxxxxxxxxxxxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxx xx x xxxxxxx xxxxxxxxxx. Xxxxxxxxxxxxxxxx xxxx xxxx Xxxxxxxxxxxx xx xx x xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxx x Xx. xx Xxxx x x.X.x. xx xx Xxx. x XXxXx.

Xxxxxxx Xxxxxxxxxxxxx: Xxxxxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxx.

10. Verluste aus Veräußerung einer wesentlichen Beteiligung

Xxxxxxxx Xxx Xxxxxx, XxxXxXxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxx, xxx xxxxxxxxxx x x xxx Xxxxxxxxxxxxx xxxxxxxx xxxx xxxxxxxxx xxx xxxxxxx xxxxx Xxxxx xxxxxxxx xxxxx, xxxxxxx xxx Xxxxxxx xxxx Xxxxxx xxx xxx Xxxxxxxxxxxxx x xxxx xxx Xxxxxxxxxxxxxx x xxxxx xx xxx Xxxxxxxxxxxxxxxxxx, xxxxxxx xx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxx xx XXxXx.

Xx xxxxxx Xxxx xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx:

• Xxx Xxxxxxxxxxxxxxxxxxxx xxx xx xx x xxxxxxxxxxxxxxx xxx "Xxxxxxxxxx xxx Xxxxxxxxxxxxxx" xxx xxxxxx xx xx x xxxxxxxxxx. Xx xxxx xx xxx Xxxxxxxxxxxxxxxx x "Xxxxxx X" x xxxxxxxxx xxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxx xxx x Xx. xx Xxxxxx. x XXxXx.
• Xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxx xx xx x xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.

XXXXXXX: Xxx Xxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxx xxx xxxxx Xxxxxxxxxxxxxxxxx xxx xxxx xxx x x xxx Xxxxxxxxxxxxx xxxxxxxx xxxxx xx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx xx x. Xxxx xxxx xxxx xxxx Xxxxxxx, xxx xxx xxxx xxxxxxxx xxxxxx.

11. Verluste aus stiller Beteiligung oder partiarischem Darlehen

Xxxxxxxxx xxx xxxxx xxxxxxxxx Xxxxxxxxxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxx xxx xx Xxx. x Xx. x XXxXx xxx xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx xx Xxx. x Xx. x XXxXx. Xxx Xxxxxxx xxxxxxx xxxxx xx xxx Xxx, xxx xx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxx Xxx xxx Xxxxxxxxxx xxxxxxxx xxx. Xxxxx xxxx xxxxxx Xxxxxxxxxx, xxx xxx Xxxxxxx xxxx xxx Xxx xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx, xxxxxxxxxxx x Xxxxxx xxxx Xxxxxx xxx Xxxxxxxxxxxxxxxxx, xxxx xxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxx xxxx xxxxxxxxxxxxxx xxxxxx xxxx xxxxxxxx xx xx Xxx. x Xxxx x XXxXx.

Xxxxxxxxxx xxx Xxxxxxxx xxxxxx Xxxxxxxxxxxxxx:

• Xxx xxxxxxxxx Xxxxxxxxxxxxxx xxx xxxxxxx xxxxxxx Xxxxxxxxxxxxxxx xxxxxxx xxxxx Xxxxxxxxx xxx Xxxxxxx xxx xx xx Xxx. x Xx. x Xxxx x XXxX xxxxxxxxxxxxxxx xxxxxx. Xxx xxx Xxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxx xxxx xxxxxxxx Xxxxxxxx xxxxxxxxxxxx. Xxxxx xxx Xxxxxxx xx xx xx Xxx. x Xx. x Xxxx x XXxX xxx xx xxx XXxX xxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxxx xxx xxxxxxxxxxx Xxxxxxx xxxxxxxxxxx. Xxx xxxxxx Xxx xxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxxxx xxxxxxx Xxxxxxxxxxxxxxx xxx xxxxx xxxxxxxx xxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxxxxx xXXxXxxxxxxxxx xxxxxxxx xxx xx.x.xxxxx.
• Xxxxxx xxx Xxxxxxxx xxx Xxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxxx xxx xxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxx xxxxxxxx xxxx xxxx xxxxxxx, xxxx xxx xxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxxx xxx xxx xxxxxxxxx Xxxxxxxx xxx xxx xxxxxxx Xxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xx xxxx xxxxx xxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx.
• Xxxxx xxxx xxx Xxxxxxxxxxxxxx xxx xxxxxxxxx Xxxxxxx xxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxx xxxxxxxxxxx xxxx, xxxx xx xxx xxx xxx Xxxxx xxx Xxxxxxx xxx xxxxxxxx Xxxxxxxxx xxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxx, Xx. xx. Xxxxxxxx xxxxx xxx Xxxxxxx xxxxxx xxxx xxxx x xxxxxxxxxxxx xxxxxxxxxxxxx Xxxxxxxxx xxx xx xxx XXxX x xxx xxxxxxxxxxxxx Xxxxxxxx xxxxxxxxxxxxx, xxx xxx xxxxxxxxxxxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxxxxx.
• Xxxx xxx xxxxxxx Xxxxxxxxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxx xxxx Xxxxxxxx xxxxxxxxxx, xxxxxx xxx xxx Xxxxxxxxxx xxx xxxx xx xx Xxx. x Xx. x XXxX xxxxxxxxxxxxxxxxx Xxxxxxxxxx xxxxxxx xxxxxxxxxxxxxxxx xxxxxxxx Xxxxxxx xxxxxxxxx xxxx xxxxxxx xxxxxxxxxxxxxxxx xxxxxxxx Xxxxxxxx xxxxxxxxxxxxxx.
• Xxxx xxxxx Xxxxxxxxxx xxx xxxx xxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxx xxxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXxXx. xxxx XX X. xxxx XXXxXxxxxx xxx xx.x.xxxx, XXxXx. xxxx XX X. xxxx.

Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxx: Xxx Xxxxxx xxx xxx Xxxxxxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxx. Xxxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxxx xx xxxxxxxx xxx xx Xxx. x Xx. x XXxXx. Xxx Xxxxxxxxxxxxx xxxxxx xxxx xxxx Xxxxxxxxx xxxx Xxxxxxxxxxxx xxx Xxxxxxxxxxx.

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• xxx xxx xxxxxxxx Xxxxxxxxx xxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxx, xxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxx, xxx Xxxxxx xxxxxxxxxxxxxx,
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Xxxxxxxx:
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Xxxxx xxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx Xxxx Xxxxxxxx xxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxx xxx xx Xxx. x Xx. x x.X.x. Xxx. x Xxxx x XXxXx. Xxxx Xxxxxxxx xxxxxxx xxxxx Xxxxxx xx Xxxxx xxx x XXX xXxxxxxx xxx.xxx XXX xxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx.xxx XXX xxxxxxxxxx Xxxxxxx xx Xxxxx xxx xx.xxx XXXx.

Xxxxxxxx xxx xxxxxxxx xxxxxxx Xxxxxxxxxxxxx xx Xxxxxxxxxxxxxxxxxxxxx xxxxxx xxx xxxxx xxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx xx.xx.xxxx, XXxXx. xxxx X X. xxxx:

• Xxxx xx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxx, xxxx xxx Xxxxxxxx xx Xxxx xxx Xxxxxxxxxxxxx xxxx xx xxx XXxX xxx xxx xxxxxxxxx Xxxxxxxx xxxx xxx Xxxxxxxxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxxx xxx xx Xxx. x Xxxx xxx XXxXx.
• Xxxxx xx xxx xxxxxxx Xxxxxxxxxxxx xxxxxxxxxxx xxxx xxxxxxxxx, xxxx xxxx xxxxxxxxx xxxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxxxx xxxx, xxxxxx xxx Xxxxxxx xxxxxxxxx xxxxxxxxxxxx.

12. Verluste aus Aktien-, Umtausch-, Wandelanleihen

Xxxxxxxxxxxxxx xxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxx xxxxx Xxxxxxxxxx, xxx xxxxx xxx Xxxxxxxx xx Xxxx xxx Xxxxxxxx xxx Xxxxxxxxx xxx, xxxxxxxx xxx Xxxxxxx xxx Xxxxxxxx xxxxxxxxxxxxxxx xxxx xxx Xxxxxxx xxxx xx Xxxxxxxxx xxxxxxxxxxx Xxxxxx xxx Xxxxxx xx xxxxxxxxxxx. Xxx Xxxxxxxxxxx xxxxxx xxxx Xxxxxxxxxxxxxxxx, xxx xxxx xxxxxxxx Xxxxxxxxxx xxxxx xxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxx xxxxxxxxx, xxx Xxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxxxxx xxxx xxx xxxxxxxxxxxx xxxxx xxxxxx xxxxxxxxxxxx Xxxxxx xxx xxxxxxxxxx Xxxxxx xx xxxxxxxxx.

Xxx xxxx xxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx. Xxxxxxxxxxxxxxxxxx xxxxxxxxx. Xxxx xxxxx xxxxxxxx xxxxxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxx:

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• Xxxxxxxxx Xxx xxx Xxxxxx xxxxxxxxxxx, xx xxxxxxxx xxx Xxxxxxxxxxxxxx xx Xxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxx Xxxxxxxxxxxx xxx Xxxxxxxx xxx Xxxxxx xxx Xxxxxxx. Xxxxxx Xxxxxxx xxxxxxx Xxx xxx xxxx xxx xxxxxxxx Xxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxxx xxxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx. Xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxxxxx xxx Xxxxxx xxxxxx xxx xxx Xxxxxxxxxxxx xxx xxxxxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxx.

Xxxxxxxx:
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13. Verluste aus Lebensversicherungsverträgen

a) Neuverträge mit Vertragsabschluss ab 2005

Xxx Xxxxxxxxxxxxxxxxxxxx, xxx xx xxxx xxxxxxxxxxxxx xxxxxx, xxx xx Xxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx x xxx xxxxxxxxxxx Xxxxxxxxxx x xxx Xxxxxxxxxxxxxx xxx xxx Xxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxx xxx xx Xxx. x Xx. x XXxXx. Xxx xxxx

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• Xx xxxxxx Xxxx xXxxxxxxxxx xxx xxx xx. Xxxxxxxxxxx xxxxxxx Xxx xxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxxxxx. Xxxxxx xxxxxxxxx Xxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxx xx xxx Xxx. x XXxXx. Xxx Xxxxxxxxxxxxx xxxxxxx Xxx xxx Xxxxxxxxxxxxxxxx xxxxxxxx xXxxxxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxx xxxxxxx xx xxx Xxx. x XXxXx.
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XXXXXXXXX: Xx Xxxxxxxxxxx xxxxxx Xxx xxx xxxxx xxxxxx, xxx xxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxx xxxx. Xxxxxxx xxxxxxx Xxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxx xxxxxxxx xxxxxxxxx. Xxxxx xxxxxxx xxx Xxxxxxxxxxxxxxxxxxxx xxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxx xxxxxx xxxxxxxxxxxx Xxxxxxxxxxxx xxxxxx xxx, xxxxxx Xxx xxx Xxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxx xxxxx xxxxxx xxxxxxxxx xxxxxxx xxx xx Xxx. x Xx. x XXxXx.

b) Altverträge mit Vertragsabschluss vor 2005

Xxxxx xx xxxx xxx Xxxxxxxxxx xxxxxxxx xxxx, xxx xxx Xxxxxx xxx Xxxxxxxxxxxxx xxxxxxx xx xx Xxx. x Xx. x XXxX xxxxxxxxxxxxxxx xxx xxx Xxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx. Xxxxxx xxx xx xxx Xxxxxxx, xx xxxxx xxxx xxx Xxxxxxxxx xxxx xxxxx Xxxxx xxxxxxxxxxxxxxx xxxxx xxx xxx Xxx. xx Xxxx x XXxXx xxxxx xx xx Xxx. xx Xxxx xx XXxXx. Xxxx xxxxxxxx Xxxxxxxxx,

• xxx xxx Xxxxxx xxx xx Xxxxxx xxxx Xxxxxxxxxxxxxxxxx xxxxxxxx xxxxxx, xxxx
• xxx xxxxx Xxxxxxxxxxxxx xxxxxxxxxxxxx xxxxxx xxxx xxx xxxxxxxx xxxxxx, xxxx
• xxx xxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxx xxx xxxxxxxx xxxxxx.

Xxx "xxxxx" Xxxxxxxxxxxxxxxxxxxx, xxx xxx xxxx xxxxxxxxxxxxx xxxxxx, xxxxxx xxx Xxxxxxxxxxxxxx xxxxxxxxxx xxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxx xxxxxxxxxx xx Xxxxx xxxxxxxx. Xxxx xxx xxxxxxx "Xxxxxxxxxx" xxxxxxxx, xxxx Xxxxxxxxx: Xxx xxxxx Xxxxxxx xxx xxxx xxxxxx xxx Xxxxxx xxxxxxxxxx. Xxx xxxxx Xxxxxxx xx xxxx xxxxxxx xxx Xxxxxx xxxxxxx xx xx Xxx. x Xx. x XXxX xxxxxxxxxx xxxxxx, xxxxxx xxx xxxxx xxxxxxxx Xxxxxxxxx xxx Xxxxxxxx xxxx xxxxx Xxxxx xxxxxxxxxxxxxxx xxxxxx, x.x. xxxxxxxxxxxx xxx xxxxx Xxxxxxx xxx Xxxxxx xxx xx Xxxxxx xxxx Xxxxxxxxxxxxxxxxx xxxx xxx xxxxxxxxxxxxxxxxxx Xxxxxxxxx. Xx xxxxxxxxxx xxxx xxxx xxxxxx xxx xxxxxxxxxxxxxxxxxx Xxxxxx xxx xxxx xxx xxxxxxxxxxxxxxxxxxxxxxxx Xxxxxx xxx xxx Xxxxxxxxxxx, x.x. xxx xxxxxxxxxxxxxxxxxxxxxx. Xxxxx Xxxxxxxx xxxx xxxxxxxxx xxxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxx xx Xxx. xx Xxxx x xxx xx XXxX xxxxx XXX Xxxxxxxxx xxx xx.x.xxxx, Xxxxxxxx XXx Xx. xxxxxxxx.

Xxx xxxx xxxx xxxxxxxxxx xx Xxxxxxxxxxx, xxxxx xxx Xxxxxxxxxxxxxx xxx. Xxxxxxxxxxxxxx xxxxxxxxx xxx xxx xxx xxxxxxxxxxxx Xxxxxxxxxx Xxxx xxxxxxxxxx xxx Xxxxxxx xxxxx Xxxxxxxxxxxx xxx Xxxxxx xxx xx Xxxxxxx xxxxxxxxxxxxxxx xxx, xxxxxxx xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxx.

XXXXXXX xxx xxx Xxxxxxxxxxxxxxx xxx xxxxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxx, xxx xxx xxxx xxxxxxxxxxxxx xxx xx Xxxxx xxxx xxx Xxxxxx xxx xx Xxxxxx xxxx Xxxxxxxxxxxxxxxxx xxx xxxxx xxxxxxxxxxx Xxxxxxx xxx xx.xxx XXX xxxxxxxx xxxxx. Xxx Xxxxxxxxxxxx: Xxx Xxxxxxx xxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxxxxxxxxx. Xxxx xxxx xxxxx Xxxxxxxxxx xxxxx xxx Xxxxxxxxx xxxxxxxxxxxxxxx xxxxxxx x xxx xxxxx xxxx xxx Xxxxxxx xxxxxxxxx xXXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxxx.

• Xxx Xxxxxxxxxxx xxxxx Xxxxxxxxx xxxx xxxxx xxx xxx Xxxxxxxx xxxxxxxxxx xxxxxx, xx xxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxx. Xxxx "xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxxxx xxx xxxxxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx" xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx. xxxx X X. xx, Xx. xxxx. Xxxx xxxx xxxx xxxxxxxxxxxx xxx Xxxxxxxxx xxx xxx Xxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx.
• Xxx Xxxxxxxxxx x xxx XX Xxxxxxxxxxx x xxx xxx Xxxxxxx xxxxx xxxxxxxxx, xxxx xxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxx xxxxxx. Xx xxxxxx xxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xx Xxxx xxxx xxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xx Xxxxx xxxx xxx Xxxxxxx xxxxxx, xxx xxxxxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxx xx xxxxxxxx xXX Xxxxxxxxxxx xxx xx.xx.xxxx, x X xxxxxxx Xx.

XXXXX: Xxxx Xxxxxxx xxxxx Xxxxxxxxxxxx xxxx Xxxxxx xxx xx Xxxxxx xxx xxx Xxxxxxxxxxxxxx xxxxxxxxxx xxx xxxxx xxxx xxx Xxxxxxx xxxxxxxxxx xxxxxxxxxx. Xxxxxxx xxx Xxxxxxx xxxx xxx Xxxxxx xxx xx Xxxxxx xxxx Xxxxxxxxxxxxxxxxx, xxx xxx Xxxxxx xxxxxxxxxxxxxxx x xxx xxxxxxxx xxxx xxxx xxx Xxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxx.

XXXXXXXXX: Xxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxx xx Xxxxxx xxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxx xxx, xxxx xx xxxxx xxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx xxx. Xxxxxxx xxx xxx Xxxxxxxxxx xxxxxxxxxxxx, xxx Xxxxxxxxxxxxxxxxxxxx xxx. xxxxxxxx xx xxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxx, xx xxxxxx xxxx xxx xxx Xxxxxxxxxx xxx xx x xxxxxxxxx xxxx. Xxx xxxxxxx xxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxx xxx xxx Xxxxxxx xxxxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxx xxxxxxxxxxx xxxx. Xxxxxxxxxxxx xxxxxx xxxxx xxxxx Xxxxxxx Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxx.

Xxxxxxx Xxxxxxxxxxxxx: Xxxxxxxxxxxxxxx: Xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx.

14. Verluste aus Optionsgeschäften

Xxxxx xxx Xxxx xxxxxxxxxxxXxxxxxxxxx xxxxx xxxxx xxxx Xxxxxxxxxxxxxx xxxxx xxxx, x.X. xxx Xxxxxx,xxxxxxxx Xxx x xxx Xxxxxxxxxxxxx x xxx Xxxxx, xxx Xxxxxxxxxx xXxxxxxxxxxxxx xxxx xxxxxxxxx Xxxxxx xxx Xxxxxx xx xxxxx xxxxxxxxxx Xxxxxxxxxx xx xxxxxx xxx. xx xxx xx xxxxxxxxx. Xxxxxx xxxxxx Xxx xxx Xxxxxxxxxxxx xxxx xxx Xxxxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxx. Xxx xxxxxx Xxxxxxxxx xxxxx Xxx xxxxx xxx, xxxx xxx Xxxxxxxxxxx xxx Xxxxx xxxxxxx xxx. xxxxxx xxxx. Xxxx Xxxx Xxxxxxxx xxx, xxxxx Xxx xxx Xxxxxx xxx.

Xxxxx xxxx xxx Xxxxxxxxxx xxxxxxxx Xxxxx Xxxxxxxxx xx xxx xxxxxx Xxxxxxxx xxxxxxxxx, xxxxxxxx xxx Xxxxxxxxxxxx xx Xxxxxxxxxxx xxxxxxxxxxx xx Xxxx xxx xxxx xxx Xxxxxxx xxxxxxx. Xxxxxx Xxx xxxx xxx Xxxxxxxxxx xxx. Xxxxxxxxxxxxxx xx Xxxx xxx Xxxxxxxx xxxxxxxxx, xxx xxx xxxxxxxx Xxxxxxxxxxxxxx xxxxxxx Xxxxxxxxxxx xxx xxxxx Xxx xxxxxxxx Xxxxxxxxxxxxxx xxxxxxxx.

Xxxxxx xxx Xxxxxxxxxxxxxxx xxxxxx xx xxx Xxxxxxxxxxxxx xxxxx xxxx xxx xxxxx xx xxxxx xxxxxxx Xxxxxxxxxx xxxxxxxxxxxx, xxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxx xxxxxxxxxx Xxxxxxxx xxx Xxxxxxx xxx Xxxxxx xxxxxxxxxx xxxxxxxxxxxx xxxx xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx. xxxx X X. xxx, Xx. xxx.

Xxx xxxxx Xxxxxxxxxx xx xxxx xxx xx xx Xxxxx xxxx xxxx Xxxxxx: Xxx Xxxxxxx xxx Xxxxxxxxxxxxx xxxxxx xxx xxx xxxxxxxxx Xxxxxxxxxxxxxxx xxx xxx. xxxxxxxxxxx Xxxxxxxxxxxxxx xxx xxx "xxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx" xxxxxxx xx xx Xx. x x.X.x. xx xx Xxx. x Xx. x XXxX xxxx xxxxxxxxx xXXXxXxxxxx xxx xx.x.xxxx, XXxXx. xxxx XX X. xxxx XXXxXxxxxxx xxx xx.x.xxxx, XX X xxxxx xxx XX X xxxxxx xxxxxxxxx XXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx. xxxx X X. xxxx.

Xxx xxxxx Xxxxxxxxxx xx xxxx xxx xxx XXX Xxxxxx xxxx xxxxx xxx XXxxxx xxxxxxxxxxx, xxxx Xxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxx xxx xxxxxxxx Xxxxxxxxx x xxxxx xxx Xxxxxxxxxxxxxxx!x x xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxx xx xx Xxx. x Xx. xx XXxX xx xxxxxxxxxxxxxxxx xxxx. Xxxxxx xxx xxxxxx xxxxxxxxxx xxx XXX xxxxx xxx Xxxxxxxxxxx xxx Xxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxx. Xxxxx xxxx xxx Xxxxxxxxxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx, x.x. xxx Xxxxxxxxxxxxxxxxxx xxxx xxxxxxxxxx Xxxxxxxx, xxx xxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxx Xxxxxx xxx Xxxxxxxxxx, xxxxxxx xx xx Xxx. x Xxxx x XXxX xxxxxxxxxx xxxxxx xXXXxXxxxxxx xxx xx.x.xxxx, XX X xxxxx, XX X xxxxx, XX X xxxxxx.

XXXXXXX xxxxxxxx xxxx xxxxx xxxx xxx Xxxxxxxxxxxxxxxx xxxxx xxxxxxxxxxxxx, xx xxxx Xxxxxxxxxxxx xxxx xxx Xxxxxx xxxxx Xxxxx xxxx Xxxxxxxxxxxxxx, x.x. xxx xxxxxxxxx Xxxxxxxxxxxxxxx, xx Xxxxx xxx Xxxxxxxx xxx Xxxxxx xxx xxx Xxxxxxxxxx xxx Xxxxxxx xxxx Xxxxxxxx xxxxxxx xx xx Xxx. x Xxxx x XXxX xx xxxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XX X xxX xxxxxxxxxxxxxx.

XXXXXXXXX: Xxx Xxxxxxx xxxxx Xxxxxx xxxx xxxxx Xxxxxxxxxxxxxxxxxx xXxxxxxxxxxxxxxxx xxxxx xxx Xxxxxxxxxxxxxx xxxxxxxxx, xxxxxxx xxxxx xxxxxx xxx xxx Xxxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxx xxxxxxxxxxxx. Xxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxx xx xx Xxx. x XXxX xxxxx xxx Xxxxx xxx xxxx Xxxxxx xxx Xxxxxx xxxxxxxxx Xxxxxxxxxxxxxxx xxxxx xxxxxxxx, xxxx xxx xxxxx Xxxxxxxxxxxxxxx xxxxxxx xxx Xxxxxxxxxxxx xxxxxxxxx xxxxxx, xxx xx xxxxxxxxxxxxx xxxxxxxxxx Xxxxxxxxxxxx xxxxx xxxxxx. Xxxx xxxxxxxx xxxx xxx xxx Xxxxxxxx xxxxx Xxxxxx xx xxx Xxxxxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxx. Xxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx xxxxxx xxxx, xxxxxx xxxx xxx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxx. Xx xxxxxxxxx Xxxxxxxx xxxxxx xx xxx Xxxxxxxxxxxxxxxxxxxxx xxx Xxxxxx xxxxx xxxxxxxxxxx xxxx, xxxxxxx Xxx xxxxx xxx xxxxx xxxxxxxxxx Xxxxxxxxxxxx xx Xxxxx x xxx "Xxxxxx XXX" xxxxxxxxx xxx xxx Xxxxx x xxxxxxxxx.

Xxxxx xxx Xxxxxx xxxxxxxxx xx xxxxxx, xxxx xxx xxxxxxxxx, xxx xxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxx xx xxxxxxxxx x xxxx xxxx xxx xx xxxxx xxxxxxxxxxxx Xxxxx xxx xxxxxx x Xxxx xx.X. x,x Xxxxx. Xxxx xxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxx xxxxxxxx xx xx Xxx. x XXxXx x xxx xxx Xxxxxxx xxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx. Xxx xxx Xxxxxxxxxx xxx Xxxxxxxxx xxxx xxxx xxx xxxxxxxx Xxxxxxxxxxxxxx xxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx.xxxxxxXx Xxxxx xxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxx xxxx xxxxxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxx: Xxxx "Xxxxxxxxxxxxx" xxxx xxxxx xxxx xxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxx xxx xxx Xxxxxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx. xxxx X X. xxx, Xx. xxx. Xxxxx xxxx xxx Xxxxxx xxxxxxxxxxxxx, xxxx xxxxx xxx xxxxxxxxxxxxxxxx Xxxxx xxx Xxxxxx xxxx xxxxxxxxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxxx xx xxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxx Xxxxxxxxxxxxxx xxx Xxxxxx xxx xxxxx xxx XXX xxxx xxxx Xxxxxxx xxxxxxxx xxxxxx, xxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxx xxxxxxxxx, xxxx xxxxxxxxxxx Xxxxxxxx xxxxxxxxxxxx. Xxx xxxxx xxxxx xxxxxxx xxx xxx xx Xxx. x Xxxx x xxx x XXxXx. Xxxxx xxxxxxxxxxx.

XXXXXXX xxx xx xxx x.x.xxxx xxxx Xxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx: Xxxxxxxxxxxxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx, xxxxxxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxx, xxx xxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xx.xxx XXX. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx, xxxx xxxx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxx xxxxxxxxx xxx xx Xxx. x Xxxx x XXxX, xxxxxxxxxx xxxxx xxx "Xxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx"x xxxxxxxxx xxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx"x.

• Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx xxx xx Xxx. xx Xxxx xx XXxXx.
• Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxx xxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.

Xxxxxxxxxxx xxx Xxxxxxxxxxxx: Xxxxxxxxxxxxxxxx xxxx xxxxx xxxx xxxxxxxxx Xxxxxxxx xxx xxxxx Xxxxxxxxxxxx xx xxxxxxxxxxxx Xxxxxx xxxxxxxxxx. Xx xxxxxxx xxxxxxxxxx xxxx Xxxxxxx xxx xxxxxxxxxxxx xxx Xxxxxxxxxxxx xxx Xxxxxx xxxxxxxxx. Xxxxx Xxxxxxx xxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxx xx xxxxxxxxxxxxxx Xxxxxxx xxx. Xxxxxxx xxxxxx xxxxxx Xxxxxxxx xx xxxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx, xx xxx Xxxxxxxxxxxxxxxxxxx xxx xxx xxxxxx xxxx Xxxxxxx xxxxxxxxxxxx Xxxxxxxxxxxxxx xxx xxxxxx xxxxxxxxxxxx Xxxxxxx xx xxxxxxxxx. Xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxx xxxxx xxxxxxxx xxxxxxx. Xxx Xxxxxxxxxxxxxx xxxx xxxxxxxx xxxxxxxxx xxx xxx Xxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx.

Xxxx Xxxxxxxxxxxxxxxxxxxx xxx xx.xxx XXX xxxxx xxxx xxx, xxxx xxxxxxxx xxxxxxxx Xxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx. Xxxxx xxxxx xxxx xxx x.x. Xxxx xxxxxxxxxxxxxx, xx xxx xxxxxx xxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxx Xxxx xxxxxxxx xxxxxx.

Xxxxxxx: Xxxxxxxx xxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx XxxxxxxXxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxx xxx Xxxxxxxxxxxxx xxx "Xxxxxxxxxxxxxxxx" xxxxxxxxx. XXXXXXX xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxx xxxx, xxxx Xxxxxxxxxxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxx, xxxxxxx "Xxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxx. x Xx. x XXxX". Xxx xxxxxxxx: Xxxxxxxx xxxx xxxxx xxxxxxxxxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxxxxxxx xxx xx.xxx XXX xxxxxxxxxxxx, xxxxxxx xxxxxxx xxxxxxxxxx xxx Xxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx xXXXxXxxxxxxxx xxx x.x.xxxx, XX X xxX xxxxxxxxxxxxx:xxx, Xx. xx. Xxxx:xxxxxxXxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx.

Knock-Out-Zertifikate

XxxxxxxxxXxxxxxxxxxxxxxx xxxxxxxxxxx, xxxx xxx XxxxxxXxxxXxxxxxxxxxxx, xxx xxxxxxx Xxxxxxxxxx xxx XxxxxxXxxxXxxxxxxx xxxxxxx xxxxxx, xxx Xxxxxxx xx Xxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx. Xxxx Xxxxxxxxxx xxx XXX xxxx xxx xx Xxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxx Xxxxxxxx xxxxxxxxxx xx xxxxxxxxxxxxxxxx, xxxxxxxxxxx xxxxx, xx xxx Xxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxx. Xxxxx xxx Xxxxxxxxxxxxxxx xxx, xxxxx xxxx xxx xxx xxxxx xx xx Xxx. x Xxxx x Xx. xx XXxX, xxx xxxxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxxxxx. Xxx xxxxxxxxxxxx Xxxxxxxxxx xxx xxxxx Xxxxxxxxxx xxx xxxx xxx xxxxxxxxx. Xxxxx xxxx Xxxxxxxxxxxxxxx xxx, xxx xxx Xxxx xxx "Xxxxxxxxxx" xxxxxxx xx xx Xxx. x Xxxx x Xx. x x.X.x. Xxx. x Xxxx x XXxX xxxxxxx. Xxxxx Xxxxxxxxx xxx xxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxx xxxxxxx, xx xxx Xxxxxxxxxx xx Xxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxx xxx xxx Xxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx. XXXXXXX xxxxx xxx Xxxxxxxxxxxxxxxx xxxxxx xxx, xxxx xxx XXXxXxxxxx xxx xxxxxxxxxx xxx, xxxxxxxxxx xxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxx xx xxx x.x.xxxxxxxxxxxXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxxxxxxxxxXXXxXxxxxxxxxxxxxxxxxx xx.x.xxxx,xxxxxxXXxXx xxxx X X. xxx, Xx. xxx. Xxxxxxx: Xxxxxxxx xxx xxx Xxxxxxxxxxxxxx xxx XxxxxxxxxxXxxxxxxxxxxxxxxxxxxxxxxxx xxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxx, Xx. xxx.

Xxx Xxxxxxxxxxxxxxx xxx xxx Xxxxxx xxx x.xx.xxxx xX X xxxxxx xx xxxxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxx xxx xxx xxxxxxxxx Xxxx xxx XxxxxxxxxxXxxxxxxxx xx Xxxx xxx Xxxxxxxxx Xxxxx XxxxxXxxxxxxxxxxx xxxxxxxxxx xxxx xxxxxxxxx xxx xxx xxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxx. Xxx Xxxxxxxxxxx: Xxxx xx xx Xxx. x Xxxx x XXxX xxxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxx, xxx xxxxxx, xxx xxxxxxx xxx xxxx xxxxxxxxxxxxxx xxx Xxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx, xxx xxxxxxx xxxx xx xxxxxxxx xxxxx xxx Xxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxx.

XXXXXXX: Xxxxxxxx Xxx xxx Xxxxxxxxxxxx xxxx Xxxxx xx xxxxxx Xxxxxxxxx..

Gezahlter Barausgleich beim Stillhalter

Xxx xxx Xxxxxxx xxxxx Xxxxxxxxxx xxxxxx xxxxx xxx. Xxxxxxxxxxxxxx xxxxxx xxxx xxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxx xXxxxxxxxxxxx, xx Xxxx xxxxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxx Xxxxxxxxx xxxxxx Xxxxxxx xx xxx xxxxxxxxxxxx Xxxxxxxxxx xx xxxxxxx xxx. xxx xxxxxxxxxx. Xxxxxx xxxxxxx xx xxx Xxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxx xXxxxxxxxxxxxxxxxxxx, xxx xx xxxx xxx Xxxxxxxxxxxxx xx xxxxxxxxxx xxx xxxxxxxx xx xx Xxx. x Xx. xx XXxXx.

Xxx xxxxx xx xxxx xxxx xxxxxxx xxx, xxxx xxx Xxxxxxxxxxx xx xxx Xxxxxxxxxxxxxx xxxxx Xxxxxx xxxxxxx, xxxxxxx xxxxx Xxxxxxxxxxxx xx Xxxx xxxxxxx xxxxx xxxxxxxxxxx, x.X. Xxxxxxxxx xxx Xxxxxxxxx xxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxxx xxx xxx xxxxxxxxxx Xxxxxxxxx xxx Xxxxxxxxxxx. Xxxxxxxxxxxxxxxxx xxx xxxxx xxxxxxxxxxx Xxxxxxxxxxx, xxx Xxxxxxx xxxx Xxxxxx, xxxxxxxx xxxxx xxx Xxxxxxxxxxxx.

XXXXXXX xxxx xx xxx x.x.xxxx xxxx Xxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxxx: Xxxxxxxxxxxxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx, xxxxxxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxx, xxx xxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xx.xxx XXX. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx, xxxx xxxx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxx xxxxxxxxx xxx xx Xxx. x Xxxx x XXxX, xxxxxxxxxx xxxxx xxx "Xxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx"x xxxxxxxxx xxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx"x.

Xxxxxxx Xxxxxxxxxxxxx: Xxxxxxxxxxxxxxx: Xxx Xxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx.

15. Negativzinsen: Kein Abzug als "negative Einnahmen"

Xxx Xxxxxx xxxxxxxx xxx Xxxxxx xx Xxxxxxx Xxxxxxxxxxxxxxxxxxx x"Xxxxxxxxxxxxxxx"x. Xxxx xxx xxxxx, Xxxxxxxxxxxxx xxxxxxxx xx Xxxxxxxx xxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxxxxx, xxx xxxx xxxxxxxx. Xxxxxxx xx Xxxxx xxxx xxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxxxxxxx: Xxxxxxxx Xxxxxx xxxx xxx xxxxx Xxxxxx. Xxxx xxx xxxxxxx xxxxx xxx Xxxxxxxxxxxxx xx xxx Xxxxxxxxxxxx xxx Xxxxxxx xxxx xxx xxxxxxxxxxxx xxx Xxxxxxx xxxxxxx. Xxxxxxxx xxxxxxx xx xxxx xxxxxxxxxxxxxx xxxxxxx xx xxxx Xxx Xxxxxxxx xxxx Xxxxxxxxxxxxxx x xxx xxxxx xxx xxxxxxx xxx XxxxxxxXxxxxxxxxxxx xxxxxxx, xxx xxx xxxx xxxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxxx.

Xxxxxxx xxx XXX xxxxx Xxxxxxx xxxx xxxxxx xxxxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxx, Xx. xxxxx. Xxxx xxxxxxxx: Xxx Xxxxxxxxxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxx x"Xxxxxxxxxxxxx"x xxx xxx Xxxxxxxxxxxxxxxx xx Xxxxxxxxx xxx Xxxxxxxxx xx xxxxxxxxxx. Xxx xxx Xxxxxxxxxxxxxxxx xxxxxxx, xx xxxxxxx xx xxxx xxxxxxxxx xx Xxxxxxxxx xx Xxxxx xxx xx xx Xxx. x Xx. x XXxX x xxxx Xxxxxxxxxxx xxx xxxx xxxxxxxxx. Xxxx xxxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxxx xxxxx xxxxxxxxx xxx Xxxxxxxx xxxx Xxxxxxxxxxxxxx xx xxxxxxxxx.

Xxxxxxxx:
Xxx Xxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxx xXxxxxxxxxx xxxx xxx xxxxx xxxxxxxxxxxx:

• xxx x,xx XXX xxx xxx.xxx XXX xxxxxxxxx Xxxx xx,x x x.x.xx
• xxx xxx.xxx,xx XXX xxx x Xxx. XXX xxxxx Xxxxxxxxxx:
• xxxxxxxx xxxxxxxxx Xxxx xxx,xx x x.x.x.

Xx xxxxxx x,x Xxx. XXX xxx x.x. xxx xx.x. xxxxxxxx. Xxx Xxxxxxxxxxxxxx xxxxxxx Xxxx Xxxxx. Xxxxxxx: Xxx xxx xxxxxx Xxxxxxxxxx xx Xxxxx xxx xxx.xxx XXX xxxxxxxxx xxx xxxxxxxxx Xxxx xx Xxxxx xxx xxx XXX xxxx.xxx XXX x x,x x x xxxxx. Xxx xxx xxxxxxx Xxxxxxxxxx xxxx.xxx,xx XXX xxx x Xxx. XXXx xxxxxxxxx xxxx Xxxx. Xxx xxx xxxxxxx Xxxxxxxxxx xxxxxxxxx xxx xxxxxxxxx Xxxx xx Xxxxx xxx x xx,xx XXX xxxx.xxx XXX x x,xx x x xxxxx. Xxx Xxxxxxxxxxx xxx xxx xxxxxxxx Xxxxx xxx xxx Xxxxxx xxx xxxx Xxxxxxxxxxxxxxxx xx Xxxxx xxx xx,xx XXX xxxxxxxx xx xxxxx xxxx,xx XXX x x,xx XXX x xx,xx XXXx.

16. Verluste aus Griechenlandanleihen

Xx Xxxxx xxxx xxxxx xxx Xxxxxxxxxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxx xxx xxxx xxx Xxx. Xxxx xxxxxxxxxx x xxxxxxxxx xxxxxxxxxxxxxxxxx xxxxxxxxxx, xxxxxxxxx xxxxxxxxxxx. Xxx Xxxxxxxxxxxxxxxxxx xxx. Xxxxxxxxxxxxxx xxxxxx xx,x x xxx xxxxxxxxxxxx Xxxxxx. xxxxx xxx xxxxxxxxxxxxx Xxxxxx xxxxxxx xxx Xxxxxxx xxxx Xxxxxxxxxxx.

Xxx Xxxxxxxxxxxxxxx xxxxxxx xx Xxxx xxxxx Xxxxxxxxxxxxxx. Xxx Xxxxxxxxxxxxx xxxx xxxxxxxxxx xxx Xxxxxxxxxxxxx.

• Xxxxx xxx XxxxXxxxxxx xxx xxxx xxxxxxxx, xxxx xx Xxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxxx xxxxx xxxx xxx xxxx Xxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx. Xxx xxxxxxxx: Xxxx xxxxx Xxxxxxxxxx xxx xxxxxxxxxx xx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxxxxxxxxxx Xxxxxxxxxx. Xxx xxxxxxxx, xxxx xxx Xxxxxxx xx xxxxxx Xxxx xxxxxx xxxxx xxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxx xxx xxx Xxx. xx Xxxx x XXxXx.
  Xxxx Xxxxxxxx xxxx xxxx Xxxxxxxxxxxxxxxxxx.
• Xxxxx xxx XxxxXxxxxxx xxxx xxx x.x.xxxx xxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx, xx xxxx xxx xxxxxxxxx Xxxxxx xxx Xxxxxxxxxx xxx xxxxxxxxx xxx Xxxxxxxxxxxxxx. Xxxxx xxx Xxxxxxxxxxx xx xxxxxxxxx Xxxx xxxxx xxxxxxxxxxxx xxxxxxxx xxx, xxxx xxx xxxxxxxxxxxx Xxxxxxx xxx xxxxxxxx Xxxxx xxxxxxxxxxx. Xxxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxx xxx xxxxx xxxxxxxx xxx xx Xxx. x XXxXx.

Xxxxxxx Xxxxx: XxxxxxxxxxxxxXxxxxxxxxxxxxxx: Xxx Xxxxxxxxxxxxxx xxx Xxxxxxxx xxxxxxxxxx xxxxxxxxx xxxxxx.

17. Verluste im Todesfall

Xxx xxx xxxxx xxxxx xxxxx xxxxxx, xxxx xxxx xxx: Xxxx xxxx xxx Xxxx, xx xxx xxx xxxxxxxxx, xxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx. Xxxxx xxxxxx Xxxxxxxxxxxxxxxx xxx xxx Xxxx xxxx xxx Xxxxxxxxxxxx xx xxxxxx. Xxx xxxx xxxxxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxx, xxx xx Xxxxxxxxx xxxxx xxxxxxxxxxxx xxxxxxxxxxxx xxxxxx xxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxxx Xxxxxxxxxxxx xx xxxxx xxxx xx xxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.

xx Xxxxx xxxx xxxxxx xxx Xxxx xxx xxxxx xxxxxxxxxxxx Xxxxxxxxxxxxxx xxx Xxxxxxxxxx xxxxxx, xxx xxxx xx xxxxxx xxxxxxx Xxxxxxxxxxxxxxxx xxxx xxx Xxxx xxx Xxxxxxxx. Xx xxxxxx xxx "xxxxxxxx" Xxxxxxx xxx xxxxxx xxxxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxx xxx. xxxxxxxx xxxxxx xxxx xxx Xxxxxxxxx xxxxxxxxx. Xx xxxxxx xx xxxxxxxx xxx Xxxxxxxxxx xxxx Xxxxxxx xxxxxx xxxxxxxx XXXxXxxxxx xxx xx.x.xxxx, XXxXx. xxxx XX X. xxxx.

Xx Xxxxx xxxx xxx xxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxx xxx Xxxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxx. Xxx Xxxx xxxx xxxxxxxx xxx Xxxxxxxxxxxxxx xxx Xxxxxxxxxx xxxxx xxxx xx xxxxxx Xxxxxxxxxxxxxxxx xxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XxX xxxx, XXxXx. xxxx XX X. xxxx. Xxxxxx Xxxxxxxxxxxxxxxxxxx xxxx xxxx Xxxxxxxxx xx xxx xx.x.xxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx. xxxx X X. xxxx.

XXXXXXX: Xxxxxx Xxxxxxxxxxxxx xxx xxxxxx xx xxxxxxxxx. Xxx Xxxx xxxxx xx xxxxxx Xxxxxx xx xxx Xxxxxxxxxxxxxx xxx Xxxxxxxxxx xxx. Xxx xxxxx xxxxxx xxx Xxxx xxxx xxx xxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxx xxxxxx xxxx Xxxxxxxxxxxxxx xxx Xxxxxxxxxx, xxxx xxxx, xxxx xxx Xxxxxxxx xxxxxxxxxxxxx xxx xxx xxxx XXXx xx xx XXx. Xxx xxxxxxx xxxx xxxxxxxxx, xxxx xxx Xxxx Xxxxxxxxxx xxx xxxxx xxxxxxxxxx Xxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxx xxxxxxxxxx xxxx, xxxxxx xxxxxx xxxxxxxxxxx Xxxxxxxx xxxxx xxxx xxxxxxxxxxxxxx xxxxxx xxxxxx xxx xx Xx. x XXxXx.

18. Verlustverrechnung von Kapitalerträgen mit tariflichen Kapitalerträgen

Xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxx, xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx, xxxxxx xxxxxxxxxxxxxx xx xxxxxxxxx Xxxx xxxxxxxxxxx xxxxxxxxxx.Xxxxxxxxxx xx Xxxxxxxxxx xxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxxxxxx xxxxx xxxxx xxx xxxxxxxxx Xxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxx xxxxxxx xxxxx xx xxx Xxxxxxx xxxxxxxxxxxxxxx xxxxxx, xxxxxxx xxx xx xxx xxxxxxxxxx Xxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxxxxxxxx xxx xxxx xxx Xxxxxxxxxxxxxx xxxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxx xxxx xxxxxxxx xxxxxxxxxx xxx xx xxxxxxxxxxxxxxx Xxxxx xxx xx Xxx. x XXxXx.

Xxx xxxx xxxx, xxxx Xxx xxxxxxxx Xxxxxxxxxxxxxxx xxxxx, xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx, xxx xxxxxxxx Xxxxxxxxxxxxxxx, xxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxxx Xxx Xxxxxxxxxxxxxxxx xxxxx xxxxxxxx, xxxx "Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxx, xxx xxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx, xxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx, xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxxx, xxxxxxxxxx xxxxxx" xxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx. xxxx X X. xx, Xx. xxxxx.

Xxxx xxx Xxxxxxxxxxxxxxx xxx xxxxx xxx Xxxxxx xxxxxxxxxxx, xxxx xxxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx, xxx xxxxx xxx Xxxxxxxxxxxxxxx xxxxxx, xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx, xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxx, xxxx xxxxxxxxx xxx. Xxxx xxx xxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxx xx xxx Xxx. x XXxX, xxx xxxxxxxxxxxxxXxxxxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxxx xxxxxx xxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxx, xxxxxxxxxxxxxxx xx xx.x.xxxxx.

• Xxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxx, xxxx xxx Xxxxxx xxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxx xxxxxxxx xx xxx Xxx. x XXxXx.
• Xx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxx xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xxx xxx xxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxx xxx xxx Xxxxx xxx xxxxxxxx Xxxxxxxxx xxxxxxxxxxxxxx. Xxx Xxxxx xxxx xx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxx xxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxxxx, xxxxxx xxxx xx xxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxx. Xxx xxx xx xxxxxxxxxx Xxxxxxxxxxxx xxxx xxx xxxxxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxx, xxxxxx xxx xxxxx Xxxxxxxxxxxxxxxx xx xxxxxxx xxx.
• Xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx xxxxx xx xxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxx, xxx xxx xxxxxxxx Xxxxxxxxxxx xxxxxxxxxxxxxx xxxx, xxxxxxx xxxx xxxxxxx. Xxx Xxxx xxxxxx xxx "Xxxxxxxxxxxxxxxxx" xx, xxx xxxxxxxxxxx xxxx Xxxxxxxxxxxxxxx xxxxxxx. "Xxxx xxx Xxxxxxxx xxx Xxxxxxxxxx xxxx xxxx xxxxxxxx Xxxxxx xxxx Xxxxxxxx xxxxxxx xxx xxxxxxxxxxxxx, xxxxxxx xxxx xxxxxxxxxxxxxx xxxxxx."
• Xxxxx xxx Xxxxxxxxxxxxxx xxxxxxx Xxxxxx, xxxxx Xxxxxxxxx xxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xx x xxx, xxxxxxxxx, xxxx xxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx xxxxxxxx Xxxxxxxxxxx xxxxxx xxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx.
• Xx Xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxx xxxxxx xxxxxxxx Xxxxxxxxxxxxxxxxx xxxxx xxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxxxxxx xxxxxx. Xxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xx Xxxx xxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxx xx xx Xxx. x Xxxx x XXxX xxxxxxxxxxxxxx. Xxxxx Xxxxxxxxxxx xxx xxxxxxxxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxx xxxxx xxxxxxx xxxxxx.

XXXXXXX xxxxxxx xxx Xxxxxxxxxxxxxxxx xxx XXXxXxxxxxxxxxxxxx xx xxx xxxxxxxx: Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxx, xxx xxxx xx xxx Xxxxxx x XXxX xxx xxxxxxxxxx Xxxxxxxxxx xxxxxxxxxxx, xxxxxxx xxxx xxxxx xxx xxxxxxxxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx, xxx xxx xxxxxxxxxxx Xxxxxx xxxx xx xxx Xxxxxx x XXxX xxxxxxxxxxx, xxxxxxxxxx xxxxxx. Xxxx xxxx xxxx xxxxx, xxxx xxx Xxxxxx xxxx xx xxx Xxxxxx x XXxX xxxxxxxx xxxxx xXxxxxxxxxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxx xx xxxxxxxxxxx xxxx. Xxxxxxxxxxxxx xxxxxxxx xxx xxxxxx, xxxx xxxxxxxxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxx xxxxxx xXXXxXxxxxxxxxxxxxxxxxx xx.x.xxxx,xxxxxxXXxXx xxxx X X. xxx, Xx. xxxxx.

XXXXXXXXX: Xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxx Xxx xxxxxxxxxx Xxxxxxxxxxxxxxx xx xxx "Xxxxxx XXX" xxxxxxx xxx xxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx. Xxxxxx Xxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxx, xxx Xxx xxx xxx Xxxx xxx. xxx Xxxxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxxxxxx.

Xxxxxxx Xxxxxxxxxxxxx: Xxxxxxxxxxxxxxx: Xxxxxxxxxxxxxxx xx xxxxxxxxxx Xxxxxxx.

19. Verluste durch Forderungsausfall des Schuldners

Xxx Xxxxxxx xxx Xxxxxxx xxxx xxxxx xxx xxxxx xxxxxxxx Xxxxx xxxxxxxxx, xxxxxxx xxxx xxxxxxx Xxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxx, x.X. xxxxx Xxxxxxxxx, Xxxxxxxxx xxxx Xxxxxxxxxxx. Xxxx xxxx xxx Xxxxxxxxxxxxx xxxxx xxxx xxxx xxx xx xxxxx Xxxxxxxxx xxxxxxxxxxxxxx.

Xxx Xxxxxxxxxxxxxxxx xxx xxxx xxxxxxxxx xxxxxxxxxxx xxxxxxxxx, Xxxxxxxx xxxxxxxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxx xxx xxxxx xxx Xxxxxxxxxxxx xxxxxxxxxx xxxxx. Xxx Xxxxxxxxxxxxxxxxx xxxxx xxxxx xxxxx xxx xxxxx "Xxxxxxxxxxxxx", xxx xxxxxxx xxxxxxx xxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxx xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx. xxxx X X. xxx, Xx. xxx.

a) Die Rechtsprechung des Bundesfinanzhofs

Xxxx xxx Xxxxxxxxxxxxxxx xxx xxxxx xxx Xxxxxx xxxxxxxxxxx, xxxx xxx xxxxxxxxxxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx xxxxxxxx Xxxxxxxxx xxx Xxxxxxxxxx xxxx xxxx xxx Xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxx. Xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx xx Xxxxx xxxx xxxx xxxx xxxxxxxxxxxxx xxxxxxxxxxxxxxxx Xxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx xx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxxxxxxx xxxxxx. Xxx xxxxxxxx, xxxx xxx xxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxx xxxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxx. Xxx xxxxxxx xxx xxxx xxx Xxxxxxx xx xxx xxxxxxxx Xxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx.

• Xxx Xxxx: Xxx Xxxxxxxx xxxxxxxxx xxxxx xxxxxxx Xxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxx. Xxxxxxx xxxxxxxx xxxxx Xxxxxxxxxxxxxx xxxx. xxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxx. Xxx Xxxxxxxx xxxxxx xxx xxxx xxxxxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxx xxxxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx. Xxx xxxxxxx Xxxxxxxxx xxx Xxxxxxxxxxxxx xXXx xxxxx.
• Xxxx Xxxxxxxxxx xxx XXXxXxxxxxx xxxx xx xxxx xxx Xxxxxxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxx xxxxxx xxxx, xxxx xxx xxxxxxxxxxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxx Xxxxxxx xx xxxxxxxxxxxxxxxx xxx xxx xx Xxx. x Xx. x XXxX x.X.x. xx xx Xxx. x Xxxx x Xx. x, Xxxx x, Xxx. x XXxXx. Xxxxxxxx xxx xxxxxxx xxxx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxx xxxxx xxx Xxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxx xxxxxx, xxx Xxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxxxxx xxxxxxxxxxxxxxx.

XXXXXXX: Xxxxxxxx xxx Xxxxxxxxxxxx, xxx xxx xxxx xxxxxxxx xxxxxx, xxxx xxxxxxxxxxxxxx xxxxx xxxxxxxxx. Xxxxx xxx xx xxxxxxxxxxxxx, xx xxx Xxxxxxxxxxxxxxxxx xxxx xxxx Xxxxxxxxxxxxx xxxxxxxx xXX Xxxxxxxx xxx xx.x.xxxx, x X xxxxxxx Xx.

b) Gesetzgeber reagiert - mit einer Einschränkung ab 2020

Xxxxxxxx xxx xxxxxxxxxxxxx XXXxXxxxxxxxxxxxxx xxxxxxx Xxxxxxxx xxxxx Xxxxxxxxxxxxxxxxx xx xxx Xxxxxx xxxx xxx xxxx xx xxxxxx Xxxxxx xxx xxxxxxxx Xxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxxxxx xxxxxx. Xxxx xx xxx x.x.xxxx xxxxxxxxx xxxx Xxxxxxxxxx xxxx xxx Xxxxxxxxx xxx Xxxxxxxxx xxxxxxxxxxx xxxxxx, xxx xxxxxxxxx

• xxx xxx xxxxxx xxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx,
• xxx xxx Xxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxx x XXxX,
• xxx xxx xxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxxxx x XXxX xxx xxxxx Xxxxxxx,
• xxx xxxxx xxxxxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxxxxx x XXxX.

Xxxxxx Xxxxxxxx xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxx xxx xx.xxx XXX xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xx Xxx. x Xxxx x XXxX, xxxxxxxxxx xxxxx xxx "Xxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx"x xxxxxxxxx xxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx"x.

• Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx xxx xx Xxx. xx Xxxx xx XXxXx.
• Xxxxxxxxx Xxxxxxxx xxxxxxx xxx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.
• Xx xxxxxxxxx x xxx xxxxx xx Xxxxxxxx xxx Xxxxxxxxxxxx x xxxxxxxxxxx, xxxxxxxxx Xxxxxxxx xxx xxxxx xxxxxxxxxx Xxxxxx xxxxxxxxxx xxxxxxxxxxxx. Xxx Xxxxxxxx xxxxxx xxxxxxx xxxxx xxxxxxxx xxxxxxx, xxxxxxx xxxxxxxx xxxxxxxxx. Xxxxxxxx xxx xx xx.xxx XXX xxxxxxx xxxxx xx Xxxx xxx Xxxxxxxxxx xxxxxxx xxxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxx Xxxxxxxxxxxxx xxxxxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxxxx xxxxxxxx.

XXXXXXX: Xxx Xxxxxxxxxxxxxxxx xxxxxx xxx xxxxxx xxxxxxxxxxx, xxxx xxx xxxxxx Xxxxxxxxxxx xxxxx xxxxxx, xxxx xxx Xxxxxxxx xxxxxxxxxxx xxxxxxxxxx xxx, xxxxx xx xxxxxxxxxxxxxx xx xxx xxxxxx XxxX xxxxxxxx xxxx. Xxxx xxxx xxxxxxxxxx xxxxxx xxxxxxxxxxx Xxxxxx xx xxxxxxxxxxxxxxxx, xxx xx xx xx Xxx. xx XXxx xxxxxxxx xxxx xxxx. xxxxxxxxxxXXXxXxxxxxxxx xxxxxxxxxxx.x.xxxx,xxxxxxXXxXx xxxx X X. xxx, Xx. xx xx.x.

Übertragung wertloser Wirtschaftsgüter auf einen Dritten:

Xx xxx Xxxxxxxxxxxxx xxxxx xxxxxxx xxxxxxxxx, xxxx xxxxxxxx Xxxxx xx xxxxx xxxxxxxxxxxx Xxxxx xxx xxxxxx x XXX xx.X. x,x Xxxxx xx xxxxxxxxx. Xxxx xxxxxxxx xxxxx xxx "Xxxxxxxxxxxxxxxxxxxxxxx" xxx xxxxxxxx xx xx Xxx. x XXxXx x xxx xxx Xxxxxxx xxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx.xxxxxxXxx Xxxxxxxxxxxxxxxx xxxxxx xxxx xxxxx Xxxxx xxxxx xxxxxxxxxxx: Xxxx "Xxxxxxxxxxxxx" xxxxx xxxxx xxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxx xxx xxx Xxxxxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx x.xx.xxxx, XXxXx. xxxx X X. xxx, Xx. xxx. Xxx Xxxxxxxxxxxxxxx xxx xxxx xxxx xxxxx xxx Xxxxxx xxxxxxxxxxx, xxxx xxxx "Xxxxxxxxxxxxx" xxxx xxxx xxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxxxx. Xxxx xxxx xxxxx Xxxxxxxxxxxxxxxx xxx xxxx "Xxxxxxxxxxxxx xxxxxxx xx xx Xxx. x Xx. x XXxX xxxxx xxx xxx Xxxxx xxx Xxxxxxxxxxxxx xxxx xxx xxx Xxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxx. Xx xxxxx xxxxxxxxxxxxxx xx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx, xx, xxxx xxx xxx xxxxxxx Xxxxxx xx Xxxxxxxxxxx xxxxxxx xxx xxxxxx xxxxxxxxxxx" xXXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxxx. Xxxx xxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx. xxxx X X. xxxx. Xx xxx x.x.xxxxxx xxxx xxxx xxxxxxxx xxx xxxx xxxxxxxxx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx xx.xxx XXX.

Einzug bzw. Ausbuchung von Aktien:

Xxxxxxxx xxx xxx xxxxxxxxxxxxxxxxxxxx Xxxxxx xxx Xxxxxx xxxxxxx xxxxxxxxxx xxxxxxx xxxxxxx xxxxxx, xxxxx xx xxx x.x.xxxx xxx xxx xxxxxxxx xxxxxxxxx Xxxxxx xxx xx.xxx XXX xx xxxxxxxx xxx. Xxxx xxxx xxxxxx xxxxxxxxxx xxx Xxxxxx xxxx xxxx Xxxxxxxxxx xx xxxxxx Xxxxx xxxxxxxxxx

• Xxxx xxx xxxxx xxx Xxxx, xxxx xx xxxxx Xxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx xXXx xxx Xxxx xxxxxxxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxx xxxx xxxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxx xXXXxXxxxxx xxx x.xx.xxxx, XXXX X xxxxxx.
• Xxxxxxxxxxx xxx xxxxx xxx Xxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxx xxxxx xxxxxxxxxxxxx XX xxxxxxxx, xxxx xxxxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx, xxxxxxxxxxx xxx xx Xxxxxxxx xxxxxxxxx xxxx: Xxxx xxxxxxxx xxx Xxxxxxxxx xxx xxxxxxxxxxx Xxxxxxx, xxxx xx xxxxx Xxxxxxx xxxx xxxx xxxxxxxxx xxxxx xxxxxxxxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx.
• Xxxx xxxxx xxxxxxxxxx xxxxxxxx xxxx xxxx Xxxxxx xxx Xxxxxxxxxx xxx xxxxxxx Xxxxxxxx, xxxx xxx xxxxx Xxxxxxxxxxxxxxxxxx xxxx XXxxxxxxxxxxxxxxx Xxxxx. Xxx Xxxxxxxxxxxxx XxxxxxxxxxXxxxx xxx xxxx xxxxxxxxxxx, xxxx xxx xxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx xxxxxxx xxxxxxxxxx Xxxxxx xxxxx xxx xxx Xxxxx xxxxxxxxx Xxxx xxxx xxxx xx xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxx xXxxxxx xxx xx.xx.xxxx, x X xxxxxxxx. Xxxx xxxxx xxx Xxxxxxxx xxxxx xxxxxx Xxxxxx xxxx xxxx XXX xXXXX X xxxxx. Xxxx xxx Xxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxx xxxx Xxxxxxxxxxxxx xx Xxxxxxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxx xxxxxx xxxx xxx xxxxxxxxxxxx Xxxxxxxxx xxx XX Xxxxxxxx xxxx xxx Xxxxxxxx xxxx xxxxxxxxxx xXxxxxx xxx x.x.xxxx, xx X xxxxxx X, Xx.

c) Verkauf von fast wertlosen Aktien bis 2019 

Xxx Xxxxxxxxxxxxxxxx xxxxxx Xxxxxxxx xxx xxxxxxxxx Xxxxxx xxx xxx xxxxxx Xxxxxxxxxx xxx xxx Xxxxx xxxxxxxxx xxxxx xxxxxxxxxx. Xxx xxx xxx xxxx xxxx xxxxxxxxx, Xxxxxxxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxx xxx Xxxxxx xxxxxxxxxxxx, xxxx xxxx xxxxxxxxx x xxxx x xxxxxxxx Xxxxxx xxxxxxxx xxxxxx. Xxx Xxxx xxx Xxxxxxx xxx xxxxx xxxxxxxxxx, xxxx xxx xxxxxxxxxxx Xxxxxx x xxx xx xx XXxX xxx xxx xxx "Xxxxxxxxxxxxx" xxx Xxxxxxxxxxx xxxxxxx, xxxxx xxxx xxx xxx "Xxxxxxxxxxxxxx" xxxx "Xxxxxxxxxx". Xxxx xxxx xxxx xx xxxx xxxx xxxx xxxxxxxxxxx xxxxxxxxx xxxxxx xxxxx, xxxx xxxx xxxxx xxxx xxxxx Xxxxxxxxx xxx xxx Xxxxxx xxx xxxx xxxxxxxx, xxx xxxx xxx xxxxx xxxx Xxxxxx, xx xxxxx xxxxxxx xxxxx xxxxxxxxxxx Xxxxxxxxxx xxx xxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxx xxxxxx xxxxxx.

• Xxxxxx xxxx xxx Xxxxxxxxxxxx Xxxxxxxxxxxxxx xxx xxx xxxxxx Xxxxxxxxxx xxx xxx Xxxxx xxxxx xxxxxxxxx xxxxx, xxxxx xxxxx Xxxxxxx xxxx xxxxxxxxx xxxx xxxx xxxxxxxxx Xxxxxx xxxxxxxx, xxx xxxx xxxxxxx xxx xxxx xxxxx Xxxx xxxx xxxx xxxxxxx. Xxxxxxxx xxxxxxx xxxx xx xxxxx Xxx Xxxxxx: Xxxx X xxxxxxxx xxxxx xxxxxx xxxxxxxxx Xxxxxx xxxx x XXX xxx Xxxxxx xx Xxxx Xx Xxxx X xxxxxxxx xxxxxxxxxx xxxx xxxxxxxx Xxxxxx xx Xxxxx X xxxx x XXX xxx Xxxxxx. Xxx xxxxxxxxxxxx xxxxxx xxx Xxxxxxxxx xxxxxxxxx, xxxx xxxxx xxx xxx Xxxxxx xxxxxxxxxxx. Xxxx Xxxxxxxxxxx xxx xxxxx Xxxxxxxxxx xxxxx xxx Xxxxxx xxxxxxxxx x xxx. XxxxxxXxxxxxxxx Xxx xxxxx.
• XXXXXXX xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxx xxxxxxxxx Xxxxxx xxxxxxxxxxxxxx xxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxx x xxx xxxx xxxxxx xxxx xxxxx, xxxx xxxx xxx Xxxxxxxxxx xxxxxxxxxxxx, xxx Xxxxxxx xxxxxxxx Xxxxxx xx xxxxxx xXXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxx. Xxx xxxx xxxxxxxx Xxxxxxxxxx xxx xxx xxxx xxxxxxxxxxxxxxxxxx xxxxxxxxx. Xxx XXX xxxxxxxxxxxxxxxxxxx: Xxx xxxxxxxxx Xxx xxx Xxxxxxxxxxxxx xxxxxx xxxx xxxxx xxx Xxxxxx xxxxxxxxxxxx Xxxxxxxxxxxx xxx, xxx xxxxx xxxxx xxx Xxxxxxxxxxx xxxxxxxxxxx Xxxxxxxxx xxxxxxxxxx, xxxxx xxxxxxxxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxxxx xxxxxxxxxx Xxxxxx xxxxxxxxxxxxxxxx xxxx. Xxx xxxxxx: Xxxx Xxxxxxxxxxxxx x.X. xxx xx xx Xxx. x Xxxx x Xx. x XXxX xxx xxxxx xxx xxx Xxxxx xxx Xxxxxxxxxxxxx xxxx xxx xxx Xxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxxxx.

Xxxxx xxxx xxxx xxx Xxxxx xxx xxxx xxxxxxxxxxxx xxxxxx: Xxxxxxxx xxx xxx Xxxxxxx xxx xxxxxxxxx xxxx xxxxxx xxxxxxxxx Xxxxxx xxxx xxxxxxxxxx xxxxxxxxxxxx, xxx xxxx xxxxxxxxxxx xxxxx, xxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxx xxxx xx xxxx Xxx Xxxxxxxxxxxxxxx xxx xxxxx "Xxxxxxxxxxxxxxx" xxxxxx xXXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxx XXXxXxxxxx xxx xx.x.xxxx, XXXX X xxxxxx.

Xxx xxxx Xxxxxxxx xxx xxx xxxxxxxxxxxxxxxxxxxx Xxxxxx xxx Xxxxxx xxxxxxx xxxxxxxxxx xxxxxxx xxxxxxx xxxxxx.xxxxxx

Xxx Xxxxxxxxxxxxxxxx xxx xxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxx xxx xxxx Xxxxxxxxxxxxx xxxx, xxx xx xxxxxxx xxx x Xxxxxxx xx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxx xxx xxxxxxx xxxxxxxxxx xxx Xxxxxxxxxx xxxx. Xxx x.x.xxxx xxx xxxxxxxxxx xxxxxxxxxxxx xxxxxx, xxxx Xxxxxxxx xxx xxx Xxxxxxxxxx xxx Xxxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxx xxxx. XXXX: Xx xxxx xxxx xxxxxxxxxxxxxxx Xxxxxx. Xxx Xxxxxxxx xxxxxxx xxxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxx xxx xx.xxx XXX xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxx xxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxx xx Xxx. x Xxxx x XXxXx. Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx xxx xx Xxx. xx Xxxx xx XXxXx.

d) Weitere Urteile zu dem Thema

xxx Xxx Xxxxxxxxxxxxx XxxxxxxxxxXxxxx xxx xxxxx xxx Xxxxxx xxxxxxxxxxx, xxxx Xxxxxxxx xxxx xxxx xxxxxxxxxxxxxx xx xxxxxxxxxxxxxxxx xxxx, xxxx xxx Xxxxxxxxxxxxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxx xxx Xxxxxxxxxx xxxxxxx xxxxxxxx xxx. Xxxx xxxx xxxx xxxx xxxx Xxxxxxx xxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxx Xxxxxxxxxx xxxxxxxxxxxxxxx. Xx xxxxxx xxxxxxxxxx xxxx Xxxxxxxxxxxxx xxxxxxxxxxxx xxxxxxx xxxxxx. Xxx xxxx xxxxxxxx xxxxxxxxxxxx, xxxx xxxx xxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxxx. Xxxx xxxx xxxxx Xxxxxxxxxx xxxx xx xxxx Xxxxxxxxxxxxxxx xxxxx xxxxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxx xxxx, xxxxxx xxx Xxxxxxxxx xxxxx xxxxxxxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxxxxxxxxxxx xxxxxx xxxx xXX XxxxxxxxxxXxxxx xxx xx.xx.xxxx, x X xxxxxxxx xxxxxxxxxx xxxxx XXXxXxxxxx xxx xx.x.xxxx, XX X xxxxxx.

Xxxx Xxxxxxxxxx xxx Xxxxxxx xxx xxx xXxxxxxXxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxx xxxx xxxxx xxx Xxxxxxxxxxxxx xxxx xxx Xxxxxxxxxx, Xxxxxxxxxxxx xxxx Xxxxxxxxx xx xxxxxxxxxx. Xxxxxx xxxxxxx xxxx xx xxxxxxxxxxx Xxxxxxxxxxxxxxx xxx Xxx. x Xxx. x XX xxxxxxxxxxx Xxxxxxxxx, xxx Xxxxxxxxxxx xxxxx xxx Xxxxxxxx xxx Xxxxxxxx xxxxxx xxxxxxxxx xxxx xxx xxxx Xxxxxxxxxxxxx xx xxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxx xxxxxxxxxx. Xxx xxxxxxxx xxxxxx xxx Xxxxxxxxxxx, xxx xx xxxxx xxxxxxxxxxxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxx xxx, xx Xxxx xxxxxxxxxxxxxxxxxxxx Xxxxxxxxx xxxx xxxxxxxxxx xxx Xxxxxxxxxxxxx xxxxxx xxxxxxxx xxxxxx.

xxx Xxx Xxxxxxxxxxxxx XxxxxxxxxxXxxxx xxx xxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxx xxx Xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxx xxx. Xxx xxxxxxxxxxxxx Xxxxxxxx xxx xxxx Xxxxxxxxxxxxxxxx xxxxxx xxxxx xxxx Xxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxx. x Xxxx x Xx. x XXxX xxxx xxxxx xxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxxxx xxxx xxxxxxxxx Xxxxxxx xxxxxxx xx xx Xxx. x Xxxx x XXxX xxx xXX XxxxxxxxxxXxxxx xxx xx.x.xxxx, x X xxxxxxxx.xxxxxxXxxx Xxxxxxxxxx xxx Xxxxxxx xxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxx xxxxx Xxxxxxxxxxxxx xxxx xxxxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxx xxx. Xxxxxxxxx, xxx xxx xxx Xxxxxxxxxxxx xxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxx, xxx xxxxx xxx xxxxxxxxxx xx xxxxxxxxxxx, xxx xxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxx Xxxxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxx xxxxxx Xxxxxxxxxxxxx xxxxxxxx. Xxxx xxx xxxxx Xxxxxxxx xxx xxxx Xxxxxxxxxxxxxxxx xxx xx xxx Xxxxxxxxxxxx xx xxx Xxxx, xxxxxx xxx Xxxxxxxx xxx Xxxxxxxxx xxx xxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxxxxxxxx. Xx xxxxxxx xxx Xxxxxx, xxxx xxx Xxxxxxxxxxxx xxxxx xxxx xxxxxx Xxxxxxxxxx xxx Xxxxxxx xxxxxx Xxxxxxxxxxxxx xxxxxxx xxxxxxxxxxxx xxx xxxx xxxxxxxxxxx Xxxxxxxx xxxxxxxxx xxxxxx xxx xxx Xxxxx, xxxx xxxxxx xxx Xxxxxxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxx xxxxx xxx Xxxxxx xxx xxx Xxxxxxxxxxxxx xxxxxxxxxx xxxxxx, xxxxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxx xxxx xxxxxxxxxx xxx. xxxx xxxxx xxxxxxxxxx xxxxxxxxxxxxx xxx. XXXX:xxxxxxXxx Xxxxxxxxxxxxxxxxx xxxxx xxxxxxx Xxxxxxxxxxxxx xxxxx xxx. xxxx xx Xxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx, x.X. xxxxxxx xxxxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxxxxxxxxxx xxxxx.

Xxx XXX xxxxxxxx xxxx: Xxx Xxxxxxxx xxx xxxx xxxxx xxxxxxxxxxx Xxxxxxxxx xxxxx xxxxx Xxxxxxxxxxxxxxxxx xxxxxx xxx xxxxxx xx xxxxx xxxxxxxxxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx. Xxx Xxxxxxxxxxx xxx Xxxxxxxx xxxxx xxx Xxxxxxxxxxxxxx xxx Xxxxxxxxx xxxxx xxxxxxxx. Xx Xxxxx xxx xxxxxxxxxxxx Xxxxx xxx Xxxxxxxxx xxx xxx Xxxxxxxx xxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxxxxxxxxxxx xxxxxxxxxxxxx. Xxx Xxxxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xx xxxxxxxxxxxxxxxXXXxXxxxxxxxx xxxxxxxxxxx.x.xxxx,xxxxxxXXxXx xxxx X X. xxx, Xx. xxx.xxxxxx

xxx Xxx Xxxxxxxxxxxxx Xxxxxxxxxxxxx xxx xxxxx xxx Xxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxx xxxxxxxx Xxxxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxx xx xxxxxxxxxxxxxxxx xxx. Xxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxxx xxxx Xxxxxxx xxx Xxxxxxxxxxxxx x xxx xxxxxxxx xxxx Xxxxxxxx x xxx Xxxxxxxxxxxxx xxxxxxxxxxxxxxx. Xxxxxx xxx xxxxxxx xxxx xx xxxx Xxxxxxxxxxxxxx xxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxx xxxxx xxxx. Xxx xxxxxxx xxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxx xxxxxxxxxxxxx, xxx xxxx xxxxxx Xxxxxxxxxxxxxxxxxxx xxx xxxx Xxxxxxxxxxxxxxxxxxx xXxxxxxxxxxxxxxxxxx XX xxx xx.x.xxxx, x X xxxxxx,xxx xxxxxxxxx xxxxxxxxxx Xxxxxxxx, Xx. XXXX X xxxxx, xxxxx xxxxxxxxxxxxxxxx.

Xxx Xxxx: Xxx Xxxxxxx xxxxx xx Xxxxx xxxx XxxxxxxxXxxxxxxxxxx xxx Xxxxx xxx xxx.xxx XXX xxxxxxxx. Xxxxxxxx xxx xxxxxxxxxxxxx XXX xxx Xxxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxx xxxxx xxx Xxxxxxx xxxxxxx xxxxxxxx. Xxxxx xxx, xxxx xxxxx xxx XxxxxxxxXxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxx xxx. Xx Xxxxx xxxx xxxxxxxxx xxx Xxxxxxx xxx xxxxxxx xxxxxxxxxx Xxxxxxx xx xxx XxXxxx xx xxxxx xxxxxxxxxxxx Xxxxx xxx x,xx XXX xx x.xxx XXX Xxxxxxxx, xxxxxxxxx xxxx xxxx xx XXXx!x. Xxxxxxxxxxxxxxxxxx xxxxxx xxxxx xx. Xxx Xxxxxxxxxxxxx xxx xxxx "Xxxxxxxxxxxxx" xxxxxxxxxx xxx xxx Xxxxxxx xxx xxx.xxx XXX xxxx.xxx XXX .x. xx XXXx xxxxxxxxx.xxxxxx

20. Wann gelten Verluste steuerlich als tatsächlich "entstanden"?

Xxx xxxx xxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxx Xxxxxxxx xxx xxxxxxx xxxxxxxxxx Xxxxxx xxxxxxxxxx xxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxx xXXx, xxx xxx xxx Xxxxxxx xxxxxx xxxxxxxxxx xxx, xxxxxx xxx xXXXxXxxxxx xxx x.xx.xxxx, XXXX X xxxxxx XXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx. Xxx xxx Xxxxx xxxx xxx xxxx xxxxxxxxxx, xxxx xxxx xxx xxxxxxx Xxxxxx xxx xxx xxx xxxxxxxxx xxx xxxxxxxxxxx Xxxxxxx xxxxxxxx. Xxx xx xxxx xxx xxxxxxxxxx xxxxxxxxxxxxxxx, xxxx Xxxxxxxx xxxxxxxx xxxxx Xxxxxxxxxx xxxxxxxxx Xxxxxx xxxxx xxxxx xxxxxxxxx Xxxxxxxx xxx Xxxxxx xx xxxxxxxxxxxxxxxx xxxx, xxxxxxxxxx xxxxxxxxxxx xxx xx.xxx XXX. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxx xx Xxx. x Xxxx x XXxXx.

Doch wann ist eigentlich der genaue Zeitpunkt, zu dem der Verlust steuerlich wirksam entstanden ist?

XXXXXXX xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxx Xxxxxxxxxxxxxxx xxx xxxxx xxxxxxxxxxx xXXXxXxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx:

• Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxx xxxxx xxxxxxxxxxxxx XX, xxxx xxxxx xxxxxxx xxxxx Xxxxxxxxx xxxxxxxxxx, xxxxxxxxxxx xxx xx Xxxxxxxx xxxxxxxxx xxxx, xxxxxxxx xxx Xxxxxxxxx xxx xxxxxxxxxxx Xxxxxxx, xxxx xx xxxxx Xxxxxxx xxxx xxxx xxxxxxxxx xxxxx xxxxxxxxxxxxxx.
• Xxxxxx xxxxxx Xxxxxx xxxxxxxxxxxxxx xxx Xxxxxxxxx xxx XXxxxxxxxx Xxxxxxxx xxxxx xxx xxxxxxxxxxxxxx Xxxx xxx xxx Xxxxx xxx Xxxxxxxxxx xxxxxxxxxx, xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxx xx Xxxxxxxxx xxx Xxxxxxxxxx.
• Xxx xxxxx Xxxxxxxxxxxxxxxxx xxxx xxxx xxxxx xxxxxxx xx xxxxx Xxxxxxxxx xxxxxxxxxxx xxxxxx, xx xxx xxx xxxxx Xxxxxxxxxx xxx Xxxxxxxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxxx xxx XX xxxxxxxx xxxxx xxxx xxxxxxx xxx xxxx xxx Xxxxxxxxx xxx Xxxxxx xx xxx Xxxxxx xxxxxxxxxxx xxxx xxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxx xxxx.
• Xxx Xxxxxxx xxxxx xx Xxxx xxxx Xxxxxx xx xxxxx xxxxxxxxxxxxxxxx xxxxxxxxxxxxx XX xxxxxxxx, xxx xx xxxxx Xxxxx xxxxxxxx xxxxxx. xxxxx xxx Xxxxxxxxx xxx XX xxxxx xx Xxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxx. Xxx Xxxxxx xxxxxx xxx xx.xx.xxxx xx Xxxxx xxx Xxxxxxxx xxxx xxx xxxxx Xxxxxxxxxxx xxxxxxxxxxx. Xx xxxxxx xxxxxxx xx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxx xxxx xxxxx Xxxxxxxxxxxx xxx xxx Xxxxxxxxxx xxx xxxxxxxxxx. Xxx Xxxxxxxxx xxx xxx Xxxxxxxxxxxxx xxxxxxx xxx xxxxxxxx Xxxxxxxxxxx xx Xxxx xxxx xx. Xxx XXX xxxxxxx xxx xx Xxxxxxxx xx.
• Xxxxxxxxxxxxxx xxx xxx Xxxxxxx xxx xxxxxxx xxxxxxxxxx Xxxxxx xxxxxxxxxx xxxxxxxxxxxx. Xxx xxxxxxxxxxx Xxxxxxx xxxxxxxx xxxx xxx Xxxxxxxxx xxxx xxxx, xxxx xx xxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxx xxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxx xxx Xxxxxx xxx xxx Xxxxx xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxx. Xx Xxxxxxxxxx xxxx xxxx xxx Xxxxxxx xxxx xxxxx Xxxxxxxxxxx xxxxxxxxx xxxxxxx. Xxxxxx xxxx xxxx xxxxx xxx Xxxxxxx xxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxx xxxx xxxxx xxx Xxxxxx xxx xxx Xxxxx xxx Xxxxxxxx xxxxxxxxxx xxxxxx.

XXXXXXX:xxxxxxXxx Xxxxxxxxxxxx xxx Xxxxxxxxx xxxx Xxxxxx, xxx xxxx xxx xx.xx.xxxx xxxxxxxx xxxxxx xxxx xxx xxx xxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxx xx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxx xxxx xxx xxxxxxxxxxxxxxx xxxx xxxxxxxxxxx. Xxxx Xxxxxxxxxxxxxxxxxxxxxxx xx xxxx xxx xxx Xxxxxxxxxxx xx xx xx Xxx. x Xxxx x XXxX xxxxxxxx, xxxx Xxxxxxxx xxxxxxxx xxxxx Xxxxxxxxxx xxxxxxxxx Xxxxxx xxx xxxxx xxxxxxxxx Xxxxxxxx xxx Xxxxxx xxxxxxxxx xxxx xxx xxxxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx xxxxx.

Xxxx xxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxx xxxxxxxx, xxxx xxx "xxxxxxxxxxxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx" xxxxxxxx: Xxxxx xxx xxxxxxxxxx xxxx xxxxxxxxxx, xxxx xxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxx xxxxxxxxxXxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxx xx xxx Xxx. x Xxxx x XxxX xxxxxxxxx xxx xXXXxXxxxxx xxx x.x.xxxx, XXXXxxxxxxXxxxxxxxxxxxx.

• Xxx xxxxxxxxxx xxxxxxxxxxxxxx Xxxxxxx xxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxxxxxxx xxxx xxxx xxx, xxxx xxxxxxxxxx xxxxxxxxx, xxxx xxxxxx xxxxxxx xxxxxxxx Xxxxxxxx xxxxxxx xxxxx xxxxxxxxxx Xxxxxxxxxxxxxx xxxxxx xxxxxxxx xxxxxx. Xxx xxx xxxxxxxxxxxxxx xxx Xxxxxxxxx, xx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxxx xxxx xxxxxxxxxXxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxx Xxxxx xxxxxxxxxxxxxxxxxxx.
• Xxxxxxxxxxxxx xxxx xxx Xxxxxxx xxxxxxxxxx xxxxx xx xxxxx xxxxxxxxx Xxxxxxxxx xxxxxxxxxx xxxx, xxxx xxx xxxxxxxxxx Xxxxxxxxxxx xxxxxxx xx xxxxxx Xxxxxxxxx xxxxx xxxx xxx Xxxxxxxxxxxxxx xxx xxx Xxxxxxxxx xx xxxxxxx xxx xxx xxxxxxxxxxxx xxxxxxxxx Xxxxxxxxxxxxx xxxx xxxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxx xxxxxxxxx. Xxx Xxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxx xxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxx xxxxxx xxxxxxxx xx xxx Xxxxx xxxxx xxx. Xxxxx xxxxxxx xxxx, xxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxx Xxxxx xxxxxxxxx xxxx xxxx xxxx xxx xxxxxxx Xxxxxxxx xxxxxxxxx, xxxx xxxxx xxxx xxx xxxxx xxxxxxxxxxxx xxxxxxxxx xxx Xxxxxxxx xxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xx xxxxxxx xxx.
• Xxx xxx xxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxxxx xx xxxx xxxxx xx xxxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxx x.X. xxx xx xx XxxX, xxx xxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxx xx xxx Xxx. x Xxxx x XxxX xxxx Xxxxxxxx xxx Xxxxxxxxxxxx xxxx Xxxxxxxx xxx xxxx xxx xx xxx Xxx. x XxxX xxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxxxx.

21. Vertrauen Sie nicht auf die Handhabung der Depotbanken!

Xxxxxxx xxxxx xxx Xxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxx xxxxxxxx xxxxxxxxx xxx Xxxxxxxx xxxxxxxxxxx, xxxx xx xx xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxx xxx xxxxxxx xxxxxxxxxx Xxxxxx xxxx. Xxx xxxxxx: Xxxxxxxx xxxxxxxx xxxxx Xxxxxxxxxxxxxxx xxxxxxxxx Xxxxxx xxxxx xxxx xxx xxx Xxxx xxxx xxxxxxxxxxxxxx xxxxxxxxxx xxxxxxxxxxxxx xxxxxxxx xxxx xxx xxx xxxxxx xxxxxxxxxxxxxx Xxxxxxxxx xxxxxxxxx xxxxxx.

XXXX:xxxxxxXxxxxx xxxxxxxxxxx Xxxxxxx xx xxx Xxxxxxxxxxxxx xxxx xxxxx xxxxx xx Xxxxxxxxxxxxxxxxx xXXxXxx xxxxxx. Xxx xxx xxx xxx. xxx xxxxxxxx, xxxx xxx Xxxxxx xxxx xxxx xx xx Xxx. x Xxxx x XXxX xxxxxxxxxxxx, xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxx xxx "Xxxxxxxxxxxxxx" xxxxxxxxxx x xxx xxxx xxx "Xxxxxx xxx Xxxxxxx".

Xxxxxx xxxxxxxxxxxx. Xxxx xxxx xxx Xxxxxx xx XXxXx xxxxxxxxxxxxxxx xxxx, xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxxx xxxxxx xxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxx xxxxxx, xxxx xxxxxxxxx, xxxxxxxxxxxx xxx. Xxx xxxx xxxx xxxxxxx xx xxx Xxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxx. xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxx.

XXXxXxxxxxxxxxxxxx xxx xxxx xxx x xxx Xxxxxx xxxxxxx Xxxxxxxx xxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxx xxxxx Xxxx xxxxx xxx "Xxxxxxxxxxx" xxxxxxxx xxx xxxxxxx xx xxxxxxxxx xxxxx xxxx xxxxx. Xxxxxxx xxxxxxx xxx. xxxxxxx xxx Xxxxxxxx xx Xxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxxxxx xxx xxxxxxxxxxxxxxx xxxxx xxx xxx Xxxxxxxxxx xxxxx xxxx Xxxx xxxxxxxxx.

XXXXXXXXX:xxxxxxXxxxx Xxxxxxx xxxxxxxxx xxxx Xxxx xxx xxxxxxxx xxxx xxxx Xxxx xxxx xxxxx Xxxxxxxxxxxx xxx xxx xxxxxxxxxxxxxxx Xxxx, xxxx xxx xxxxxxxxxx xxx XXXxXxxxxxxxxxxxxx xxxxx xxxxxxxx xxxx xxxxxxxxxxx xxxx, xxxx xxx Xxxxxxxx xxxxx Xxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxx xxx. Xxxxxxxx xxx xxx xxxx xxxxxxxx xxxxxxx xxxxxx x.X. XXX Xxxx, Xxxxxx xxx xx.xx.xxxx, Xx. xx X xxxxx, XxxxxxXxxxxxxxx Xxxxx xxxxx. Xxxx xx xxxxx Xxxxx xxx xxx Xxxxx xxxxxxxxx. Xxxxxx Xxx Xxxxxxxx xxx xxxxxxxxx Xxxxxx xx Xxxxxxx xxxxx xxxxx xx Xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxx xxxxxx Xxx Xxxxxxxxxxxxxxx xxxxxxxxx xxxxx xxxxxxxxxxxxxxxx xxxxxx, xxx xxx Xxxxx xxx xxx Xxxx xxxxxxxx xxx. Xxx Xxxxxxx xxxx, xxxx Xxx xxx Xxxxxxx xxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xx xxxx xxx. xxxxxxxxxxxxxx xxx xx xxxxxxxxxx, xxxx xxx xxx Xxxxxxxxx xxx xxx xxx Xxxx xx xxxxxxxx.

XXXXXXXXX:xxxxxxXxxxxxxxxxx xxxx xxxxxxxxxxxx xxxxxxx Xxxxxx xxxxxxx, xx xxxxx Xxxxxxx xxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxx xxx xxxxxxxxxxxxxx Xxxx xxxxxxxx xxx xxxx Xxxxxxxx xxxxx xxxxx xx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxx, xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xxxx xxxxxxxxxxxx xxxxxxxxxxxxxxxx xxxxxxxx xxx. Xxx xxxx xxxx xxxxx xxxxxxx Xxxx xxxx xxx xxxx xxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxx xxxxxx. xx xxx Xxx. x Xx. x XX xxxxxx xxxx xxxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxxxxxxxxx Xxxxxxx xxxxxxxxx xxx Xxxxxxxxxxxxxx xxxxx xx,xxxxxx"xxxxxx Xxxxxxxxx xxxx Xxxxxxxxxxxx xxxxxxxxxxxxx xxxxxxx xxxxxx, xxx xx xxxxx xxxxxxxxxxx Xxxxxx xxxxxxx xxx xxx Xxxxxxxxxxxxxxxxx xxxx xxxxxx Xxxxxxxxxxx xxxxx xxxxxx, xxxx xxx Xxxxxxxxx xxxx Xxxxxxxxxxxx xxxx xxxxxxxxxxxxx xxxxxxx xxxxxx."xxxxxxXxxxxxxxxxxxxx xxxxxx xxx xxxxxxxxxxxxxx Xxxxxx xxx Xxxxxxxxxxxx xxxxx Xxxxxxxxx xxxxx Xxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxxxxxx xxxx Xxxxxxxxx xxxxxxxx xxxxxx. Xxxxx xxxxx xxxx xxxxxxx xx xxxxxxxxxx, xxxxx Xxx xxxx xxxxxx Xxxxxxxxxxx xx xxx Xxxxxxxxxxx xxx Xxxxxxxxxx xxx xxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxx.

22. Verluste aus Termingeschäften nur begrenzt absetzbar

Xxx x.x.xxxx xxx xxxx Xxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxxxx: Xxxxxxx xxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx, xxxxxxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxx, xxx xxxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xx.xxx XXX. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx, xxxx xxxx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxxxx Xxxxxx xxxxxxxxx xxx xx Xxx. x Xxxx x XXxX, xxxxxxxxxx xxxxx xxx "Xxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx"x xxxxxxxxx xxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx"x.

• Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx xxx xx Xxx. xx Xxxx xx XXxXx.
• Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxx xxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx.

Xxxxxxxxxxx xxx Xxxxxxxxxxxx: Xxxxxxxxxxxxxxxx xxxx xxxxx xxxx xxxxxxxxx Xxxxxxxx xxx xxxxx Xxxxxxxxxxxx xx xxxxxxxxxxxx Xxxxxx xxxxxxxxxx. Xx xxxxxxx xxxxxxxxxx xxxx Xxxxxxx xxx xxxxxxxxxxxx xxx Xxxxxxxxxxxx xxx Xxxxxx xxxxxxxxx. Xxxxx Xxxxxxx xxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxx xx xxxxxxxxxxxxxx Xxxxxxx xxx. Xxxxxxx xxxxxx xxxxxx Xxxxxxxx xx xxxxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx, xx xxx Xxxxxxxxxxxxxxxxxxx xxx xxx xxxxxx xxxx Xxxxxxx xxxxxxxxxxxx Xxxxxxxxxxxxxx xxx xxxxxx xxxxxxxxxxxx Xxxxxxx xx xxxxxxxxx. Xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxx xxxxx xxxxxxxx xxxxxxx. Xxx Xxxxxxxxxxxxxx xxxx xxxxxxxx xxxxxxxxx xxx xxx Xxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx.

XXXXXXX xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxx, xxxx Xxxxxxxxxxxxxx xxx Xxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxx xxxx, xxxxxxx "Xxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxx. x Xx. x XXxX". Xxx xxxxxxxx: Xxxxxxxx xxxx xxxxx xxxxxxxxxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxxxxxxx xxx xx.xxx XXX xxxxxxxxxxxx, xxxxxxx xxxxxxx xxxxxxxxxx xxx Xxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx xXXXxXxxxxxxxx xxx x.x.xxxx, XX X xxX xxxxxxxxxxxxx:xxx, Xx. xx. Xxxx: Xxx xxxxx xxxxxx Xxxxxxxxxxxxxx xxx Xxxxxxx,xxxxxxxxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxxxx, xxxxxx xxxx xxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxx xx.xxx XXX xxxxxxx Xxx xxxxxxxxxxxx xx Xxx. x Xxxx x XXxXx.

23. AKTUELL: Beschränkung der Verlustverrechnung verfassungswidrig?

Xxx xxxxxxxxxxx xxxxxxxxxxx Xxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxx Xxxxxxxxxxxxxxx xxx. xxx Xxxxxxxxxxxxxxx. Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxxxxx xxxx xxxxxxxxxx xxxxxx, xxxx xxx xxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxx xxxxx xxx xxxxxxxxx xxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx. Xxx Xxxxxxxxxxxxxxx xxxxx xxxxx Xxxxxxxxxxxxxx xxxx xxxxxxxxxxxxxxxxx xxx xxx xxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx xXxxxxxxxxxxxxxxx xxx xx.xx.xxxx, XXXX X xxxxxx.

Xxx Xxxxxxxxxxx: Xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxx, xxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxx xxxx, xxxxxxxxxxx xxx xxxxxxxxx. Xxxxx xxx Xxxxxxxxx xxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xx.x. Xxxxxxx xx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xxxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx xXxxxxxx xxx Xxxxxxxxx xx xxxxxx Xxxxxx xxx xxxxxxxxxxx xxx xxxxx Xxxxxxxxxx xxx Xxxxxxxxxxx. Xx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxxxxxx xxx xxxxx xxxxxxxxxx Xxxxxxxxxx xxx xx Xxxxxxx xxxxxxxxx xxxxxx, xxxxx xx xx Xxx. x Xxxx x XXxX xxx, xxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx xxxxxxxxx xxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx xxxxxxx. Xxxx xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxx xxxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxx xx Xxx. x Xxxx x XXxXx: Xxxxx xxxxxxx xxxxx xxx xxxxxxx xxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxxxxxx xxx xxx Xxxxxxxx, xxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxxxxxxx, xxxxxxxxxxxx xxxxxx. Xxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxx xxxxxxx Xxxxxxx xxxx xxx Xxxxxxxxxxxxxx xxxxxxxxxx xxxxxx.

Xx Xxxxxxxxxx xxxxx xxx Xxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxxxxxxxxxxxxx Xxxxxxxx xxxxxxx. Xx xxxxxxxxxx, xxxxx Xxxxxxxx xxx xxxxxx xxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx, xxx xxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxx, xx xxxxxxxxxx.

Xxxx Xxxxxxxxxx xxx XXX xxxxxxx xx xx Xxx. x Xxxx x XXxX xxxx xxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxx xxxx xxxxxxxxxxxxxxxx Xxxxx xxxxxxxxxxxxxxx xxxxxxxxx, xx xxxxxxx, xx xxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxx xxx xxx Xxxxxxxxxxxxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxx xxxxx. Xxxx Xxxxxxxxxxxxxx xxxx xxxxx xxxxx xxxxxxxxxxxxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxx xxxx xxxxx xxx xxx Xxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxx xxxxxxxxxxxxxxxxx Xxxxxxxxxxxx xxxx xxx xxxxxxx xxxxxxxxxxxxxxxxxx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxx.

XXXXXXX xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx, xxxx Xxxxxxxxxxxxxxx, xx xxxxx xxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxx xxx, xx xxx xxxxxxxxxxxx Xxxxx xxxxxxxxxx xxxxxxx. Xxxxxxxxxxxxxx xxxxxxx xxxx xxxxxx Xxxxxxxxx xxxxx xxx xxxxxxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, X X xxX xxxxxxxxxxxxx :xxxx.

Xxxx Xxxxxxxx:

• Xxxxx Xxxxxxxxxxxxxxx xxxxx xxx Xxxxxxxxxxxxxxxxxx xxx Xxxxxx xxxxxxxxxx xxxxxxxxxx xxxxxxx xxxxxxx, xxxxxxx Xxx xx xxx Xxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxx Xxxxx Xxxx xxxxx. Xxxxx xxxxxxx Xxx xxxx xxx xxxxxxx xxx xxx xx. Xxxxxxxx xxxx xxx xxxxxxxx Xxxx xxxxxxxxxx xxx xxx Xxx. x Xxxxxx x xxx x XXxXx.
• Xxxxxxxxxxxxx xxxxxxx Xxx xxx Xxxxxx XXX xxx Xxxxxxxxxxxxxxxx xxxxxxxxxx. Xxx xxxxx xxxxxxxxxxxxxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxx Xxxxxx xxxxxxx Xxx xxxx xx Xxxxx xx xxx Xxxxxx XXX xxxxxxxxx. Xxxxxxxxxx Xxx xxxxx xxxx "xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxx xxxxxxxxx Xxxxxxxxxxxxxxx" xXxxxx xx xxx xxxxxxxxxxxxxx xxx "Xxxxxxxxxxxxxxxxxx xxxx xxxxxxxxxx Xxxxxxxxxxxxxxx" xXxxxx xx. Xxxxxxx Xxx xxxxxxxxxxxxx xx Xxxxx Xxxxxxxxxxxxxx, xx xxxxxx xxxxxxxxxxxx xxxxxxxxxx xxxxxxxx xxx xxxxx xxx "Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxx xx xx Xxxxxx x Xxxx x XXxX xxx xx Xxxxxx x Xxxx x XXxX x.X.x".
• Xxxxx xxxxxxxx Xxx, xxxx xxx Xxxxxxxxxxxxxx xxxxxxxxxxxx xxx xx xxxxxx xxxxxxxxxx Xxxxx xxxxxxxxxx xxxxxx, xxxxxx xx xxx Xxxxxxxxxxx Xxxxx Xxxxxxxxxxxxxxxxx xxxxxxxx. Xxx xx xxxx xxxx xxx xx xxx Xxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx.

XXXXXXXXX: Xxxx Xxx xxx Xxxxxxx, xxxx xxxx xxxxxx Xxxxxx xxxx xx xxx Xxxxxxxxxxxxxxxxx xxxxxxxx xxxx, xx xxxxxxx Xxx xxxxxxx Xxxxxxxxx xxxxxxxx. Xxx xxxxxxx xxx Xxxxxxxx xxx Xxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxxxxxx xxxxxxxxxx Xxxxxx xxxxxxxxx. Xxxxxxxx xxxxx Xxxxxxxxxx xxxx Xxxxxxxxxxxxx xxxxxxx xxxxxxxxxx Xxxxxx xxxx xxxxxxx Xxxxxxxxxxxx xxxxxxx xxxx xxx x.x.xxxx xxx xxx xx.xxx XXX xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxxx xxxx xxxxxxxx xxxxxxxxxx, xxxx xxxx xxxxxxx xxxx xxxx Xxxxxxxxx xxx xxxxx Xxxxxxxxxxxxx xxxxxxxxxxx xxx. Xxxxxxxxxx xxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxx xxxxx xxxxxxxxx Xxxxxxxxxxx xxx xxxx xxxxxx Xxxxxxxx xxxxx.

XXXXXXXXX: Xx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxx xxx xxxxxx xxxxxxxxxxx, xxxx xx xx xxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxx xxx xxxxx xx xxx Xxxxxxxx "Xxxxxxxxxx xxx xxxxxxx xxxxxxxxxx Xxxxxx" xxxx. Xxxx xxxx xxx xxxxxxxxxx xxxxxxxxxxxx, xxxx Xxxxxxxx xxx xxx Xxxxxxxxxx xxx Xxxxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxx xxxx. Xx xxxx xxxx xxxx xxxx xxxx Xxxxxxxxxxxxxx: Xxx Xxxxxxxx xxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxx xxx xx.xxx Xxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxx xxxx xxx Xxxxxxxxxx xxxxxxxxxxx. Xxx Xxxxxxxxxxx xxxx xxxx Xxxxxxxx, xxx xx xxx x.x.xxxx xxxxxxxxx. Xxx xxx xxxxxxxxx xxxxxxxxxx, xxxx xxxxxxx xxx xxxxx xxxxxxxxxxx, xxxx xxxx xxx Xxxxxxxx xxx xxx xxxxxxxx xxxxxxx.

24. AKTUELL: Virtuelle Währungen

Xxxxxxxxxxxxxxxx xxx Xxxxxxx, Xxxxxxxx xxxx Xxxxxxxx xxxx xxx xxx Xxxxxxxxx xxx xxxxxxxxxx xxxx xxxxxxxxx xxx Xxxxxxxxxxxxxx, xxxx xxxx xxx xxx xxxxxx Xxxxxxxx xxxx xxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxx Xxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxx xxxxxx xxxxxxxxxx Xxxxxxxxxxxxxxx xxxxx xxxxxxx Xxxxxxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxxxx xxx. Xxx xxx xxxx xxx: Xxxxxxx xxx Xxxxxx xxxx Xxxxxxxxxxxxxx, xxxx xx Xxxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxx, xxxxxxx xx xxxxx Xxxxxx xxxxx xxxxxxxxxxxx. Xxxx xxx Xxxxxxx xxx Xxxxxxx xxx Xx. xxxx xxxxxxx Xxxxxxxxxx xxxx xxx Xxxxxxx xxxxxxxxxx xxxxxxxxxxxx xxxxxxxx, xxxxx xxxxxxxxx xx xxx Xxxxx xxx Xxxxx.

XXXXXXX xxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxx xxxxxxxxxxxxxxx, xxx xxx xxxxxxxxxxxxxxxxx Xxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxx xxx xxxxxxxxx Xxxxx xxxxxxxxx xxxxxx x xxxx xxxxxxxxx xxxxxx xxxx, xxxx xxxx xxxxxxxxx xxx xxx Xxxxxxxxxx xxxx xxxxx xxxxx xXXXxXxxxxxxxx xxx xx.x.xxxx, XXxXx xxxx X X. xxxx.xxxxxxXx xxxxxx xxx Xxxxxx xxxxxx Xxxxxxxxx xxxxxxxx, xxx xxxx Xxxxxxx xxx xxxxxxxxx XXXxXxxxxxxxxx xxxxxxxxxx. Xxxxx xxxxxx xxx xxxxxx Xxxxxx xxxxxxxxxxxxxxx xxxxxx:

• Xxxxxxxxxxxxxxxx xxxxxxx Xxxxxxxxxx xxxxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xx xx Xxx. x Xx. x XXxX xxxx. Xxx xxxxxxxx xxxx Xxxxxxxxx, xxx xxxx xx Xxxxxxxxxxxxxxx xxxxxxxxx: Xxxxxxxxxxxxxxxxxxxxx, xxx xxxx Xxxxxx xxxx Xxxxxxxxxxx xxx Xxxxxxxx xxx. xx Xxxx xxxx xxxx xxxxxx Xxxxxxxxxxxxxx xxxxxxxxx, xxxxxx xxx xxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxx, xxxx Xxxxxxxxxxx xxx Xxxxxxxx xxxxxxxxx xxxxx Xxxxxx xxxxxxxx. Xxx Xxxxxx xxxxxx xxxxx xxxxxxxxxx, xxxx xx xxxxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxxx XXX xxxx xxxxx xxx. x.xxx XXX xxx xxxxx xxxxxx.
• Xxx Xxxxxxxxxxxxxx xxx xxx Xxxxxxx xxx xxxxxxxxxx Xxxxxxx xxx. xxxx xxxxx Xxxx xxxxxxxxxx. Xxx Xxxxx xxxxxxxxxxx xxxx xxxx xxxx xxxxx xxx xxxx Xxxxx, xxxx xxxx Xxxxxxxx xxxxx xxxx Xxxxxxx xxxxxxx xxxxxx xxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxxxxxx Xxxxx xxxxx xxxxxxx xxxx xxxxxx Xxxxxxxxxxxxxxx xxx Xxxxx xxx Xxxxxxxxxx xxxxxxxx xxxxx.
• Xxxxxxxx xxxxxxx xxx xxx xxx Xxxxx xxx Xxxxxxx, xxx xxx Xxxxxxxxxxxxxxxx xx xxxxxxxx Xxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxx, xxxxxxxxxxxx xxxxxx. Xxxxx xxxxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx, xxx xxx Xxxxxxxxxxxxxxxx xx xxx xxxxxxxxxxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxx xxxx xx xxx xxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx xxx xxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx. Xxx xxxxxx, xx xxxxxxx xxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxx "xxxxxxxxxxxxx" xxx xxxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx, xxxxx xxxx xxxxxxxxxxxxxx xxx Xxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxx xxxx Xxxxxxxx.
• Xxxxxxxxx xx Xxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxx xxxxxxx xxxx xxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxxxxx xxxx. Xxxxx xxxxx xx xxxxx xxxxxxx xxxxxx xx, xx xxxx Xxxxxxxxxx xxxxxxxxxx, xxxx xxx xxxxx xxxxxxxx Xxxxxxxxxxx xxxxxxxxx xxxx. Xx xxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxx, xxxx xxx xxx Xxxxxxxxxxxx xxxxxxxx xxx.
• Xxxxxx Xxxxxxxxx xxxxx xxxxxxxxxx Xxxxxxxx xxxx xxxxxxxx Xxxxx xxxxxxxxxx xxxxxxxxx xxx xxxxxxxx xxxxxxxxxxxxxxxx xxx Xxxxxxxx xx Xxxxxxxxx xxxxxxx xxxxxxxxxx Xxxxxxxxxx xxxx xxxxxxxx Xxxxxx, xxxx xxx xxxxxxx Xxxxxx xxxx xxxxxxxxxxx Xxxxxxxxxx xxxxxxxxxx.
• Xxx Xxxxxxxxxxxxxxx xxxxxx xxxxx xxxxxxx Xxxxxxxxxxxxxxxxxxxx xxx. Xxxxxx xxxx Xxxxxx xxx xxxx xxxx Xxxxxxx xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxx xx Xxxxxx xxxx xxx Xxxxxxxxxx xxxxx Xxxxxxx. Xxx Xxxxxxxxxx xxxxxxxxxx xxxxx xxx Xxxx xxxxx Xxxxxxxxxxxxxx xxx xxx xxxxxxxxxx.
• Xxxx xxx Xxxxxxxxx xxxxx xxxxxxxxxx Xxxxxxxx xxxx xxxxxxxxx Xxxxx Xxxxxxxxxxxxxxxxx, xxxx xxx Xxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxx, xxx xxxx xxxxxxxxxxx xxx xxx Xxxxxxxxxxx, xxx xxx xxx Xxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxx xxxxxx xxxxxx xxxxxx. Xxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxx xxx xxxxxxxxxxxxx x xxxxxxxxxxxxxx xxxxxxxxxxxxxx x Xxxxxxxxxxxxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxx xxxxx xxxxxxxxxx Xxxxxxxx xxx xxxxxxxxx Xxxxx xxxxxxxxxx.
• Xxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxx, xxx xxxxxx xxxxxxx Xxxxxxxxxxxx xxxxxxxxxxx xxxxxx xxxxxxx, xxxxxxx xxx Xxxxxxxx xxxx xx xx Xx. x XXxX xxxxxxxxx xxxx. Xxx xxxx xxx Xxxxxxxx xxx Xxxx xxxx, xxxx xxxxxxx Xxxxxxxxxxxxxx xxxxx xxxxxxxxxxx Xxxxxxxxxx xxxxxxxx. Xxx xxxx xxxxx xxxxxxxxxxxxxxxxxxxxxxxx, xxxx xxx xxxxxxxx xxx xxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxx xxxxxxx xxx xxx XXX xx Xxxxxxxxxxxx xxxxxxxx xxxxx.

25. Prokon-Anleger: Verluste aus Tausch von Genussrechten sind abziehbar

Xx Xxxxxx xxxx xxx xxx XxxxxxxxxxXxxxxxxxxxx Xxxxxx Xxxxxxxxxxxx Xxxxxxxx XxxX xxxxx Xxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxx. Xx Xxxx xxxxxx Xxxxxxxxxx xxxxxxxx xxxx Xxxxxxxxxx xx xxxx Xxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxx xxx Xxxxxxx xxxxxx xx Xxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxxx xx xxxxx xxxx Xxxxxxxxxxxxx xxxxxxxx. Xxx Xxxxxxxxxx xxxxxxxx xxxx xx Xxxxxxx xxxxx xxxxxxxxxxxx Xxxxxxxx.

XXXXXXX xxx xxx Xxxxxxxxxxxxx Xxxxxxxx xxxxxxxxxxx, xxxx xxx Xxxxxxx xxx xxx Xxxxxx xxx Xxxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xx xxxxxxxxxxxxxxxx xxx xXxxxxx xxx x.x.xxxx, xx X xxxxxx X,Xx. Xxxx xxxx xxx xxx Xxxxxx xxxxx xxxxx xxxxxxxxxxx, xxxx xx xxxxxxxxxxxx xx XxxxxxxXxxxxxx xxxx, xxxx xxx Xxxxxxxxxxx xxxxxx xxxxxx xxxxxxxxxx.

• Xxx Xxxx: Xxx Xxxxxxx xxx Xxxxxxx xxx Xxxxxxxxxxxxx xx xxxxx XxxX. Xx Xxxxxx xxx xxxxx xxx Xxxxxxxxx xxx XxxX xxxxxxxxxxx Xxxxxxxxxxxxxxxxxxx xxxxx xxx XxxX xxxxxxxxxxxx xxxxx Xxxxxxxxxxxxxx xx xxxx xX xxxxxxxxxxx xxx xxx Xxxxxxx xxxxxxx xxxx xxxxx xxxxxxxxxx Xxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxx, Xxxxxxxxxxxxxxxxxxxxx xxx xxxxx Xxxxxxxxxxxxxxxx. Xxx xxxxxx Xxxxxxxx xxxxxxxxx xxx Xxxxxxx xxxxx Xxxxxxx, xxx xx xx Xxxxxx xxxxxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx xxxxxx. Xxxxxx xxxxxxxx xxx Xxxxxxxxx xxxxx xx, xx xxxx xx xxxxx xxxxxxxxxx xxxxxxxxxxxxxx Xxxxxxx xxx xxx xxxxxxxx Xxxxxxxxxxxxxxx xxxxxxx. Xxx Xxxxx xxxxx xx Xxxxx xxx xxx xxxxxxxxxx Xxxxxxx Xxxxxx.
• Xxxxxxxxxxx: Xxx xxx Xxxxxxxxxxxxx xxxxxxx xx xxxx xx xxxxxxxx Xxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xx Xxx. x Xxxx x Xx. x XXxX. Xx xxx Xxxxxxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxxxxxxxxx xxxx Xxxxx xx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxxx, xxxxxxx xxx xxxxx Xxxxxxxxxxx xx xxx XxxX xxx. Xxx Xxxxxxx xxx Xxxxxxxxxxxx xxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxx xx xxxxxxxxx, xxxxxxx xxxxx Xxxxxxxxxxxxx xxxxxxxxxxx. Xxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxx xxxxx xxxxx xxxxxxxx, xxxx xxx Xxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxx xx Xxxxx xxx xx xxx Xxx. x Xxxx x XXxX xxx, xx xxxxx xxx xxx xxxxx "xxxxxxxxxxxx Xxxxxx" xxxxxxxxxxx xxxxxx xxxx. Xx Xxxx xxx xxxx xxxxxxxxxxx Xxxxxxxxxxxxx xxxxxxxxx xxxx xxxxxx Xxxxxx xxxxx.

XXXXXXXXX:xxxxxxXxx Xxxxxx xxx xxxx xxxxxxxxxx. XxxxxxxXxxxxxx xxx xxxx Xxxxxxx, xxx xxx xxxxxxxxxx Xxxxxxxxxxxxx "xxxxxxx" xxxx, xxxxxxx xxx Xxxxxxxxx xxx xxx xxxx Xxxxxxxxxxxx xxxxxxxxx xxx xxx xxxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxx xxxxxxxx. Xxx Xxxxxxxxxxxx xxx xxxxxxxxx xxxxxxxxxxxxxx.

26. Beispiele zur Verlustverrechnung

Xxxxxxxx x:
Xxxx X xxx xx xxxx xxxxx Xxxxxxx xxx xxxxxxx xxxxxxxxxx xxx xxxxxxxxxxxx Xxxxxx xxx xx.xxx XXX xxxxxxxx. Xxxxxxx xxx xx xxx xxxxx xxxxxxx Xxxx xxxxx Xxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xx.xxx XXX xxx xxxxx xxxxxxxxx Xxxxxxx xxx x.xxx XXX xx xxxxxxxxxxx. Xxx xxxx xxxxxx xxxx xxx Xxxxxxxxxxxxxx xxx xx.xxx XXX. Xx xxxxx xxxx Xxxxxxxxxxxxxxxxxxxx xxxxxxx. X xxxxxxxxxxxxxx xxxxxxxxxxxxx.

xxxxxx

Xxxxxxxx x:
Xxxx X xxxxxxxxxx Xxxxxx xxx xxxx Xxxxxx. Xxxxxxxx Xxxxxxxxxx xxxxxx xx Xxxxx xxxx xxx:xxxxxx

27. AKTUELL: Im Extremfall Erlass von Steuern möglich?

Xxxx xxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxx, xxxx Xxxxxxxx xxx Xxxxxxxx xxxx Xxxxxxxxxxxxxxxxx, xxxxx xxx Xxxxxxxxxxxxxxxxxxxxx xxxxxxx Xxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxx. Xx xxxxxxx xxxxxxx Xxxxxxxx xxxxx xxx xxxxxxx xxxxxxxxx Xxxxxxxxxxx, xxxxxxx xxx xxx Xxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxxxxxxxxxxxx xxx xxxx xxx Xxxxxxxxxxxxxx xxxxxxxx. Xxxx xxxx xxxx xxxxxxx Xxxxxxxx xxx xxx Xxxxxxxx xxx xxxxxxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxxxxxx xxxx xxx Xxxxxxxxxxxxxxxx xxxxxxx xxx xxx XxxxxxXxxxxxxxxxxxxx xxxxxxxxxx.

Xxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxx xxxx xx xxxxxxxxx xxxxxxxxx Xxxxxxxx xxxxxxx: Xxxxxxxxxx, xxx Xxxxxxx xxxxxxx xxx xxxxxx Xxxxxxxxxx Xxxxxxxxxx, xxxx xxx xx xxxxxxxxxxxxxx xx.xxx XXX Xxxxxxxxxxxxxxxx xxxxxx xxxx. Xxx xxxxxx xxxxxxxxxx, xx xxxx xxxxxxxxxxxx xxx xxxxx xxxxxxxxxxxxxxxx Xxxxxxxxxxxxx Xxxxxxxx xxxxxxxxx, xxx xxxx xxxxx Xxxxxxxxx xxx xxx Xxxxxxxxxx xxxxxxxxx, xx xxxx xx xxxxxxxx xxx xxxxxx Xxxxxxx xxxx xxx Xxxxxxxxxx xxx xxx Xxxxxxxxxx xxxxxx, xxxx xxx Xxxxxxxx xxx xxx Xxxxxxxxxxxxx xxxxxxxxxxx xxxxx xxxxxxxxxx xxxxxx xxxxxxx. Xxxxx xxx xxx Xxxxxxx x xxx xxxxx xxxxxx Xxxxxxxxxxxxxxxxx x xxxxxxxxxx xxx xxxxx xxxxxxxxx xxxxxxxxxxx Xxxxxx, xx xxx Xxxxxxxxxxxxxxxx xx xxxxxx.

XXXXXXX xxx xxx Xxxxxxxxxxxxx Xxxxx xxxxxxxxxxx, xxxx xx xxxxx Xxxxxxxxxxx xxx xxx xxxx xxxxxxxxx xxx Xxxxxxxx xxx xxxxx Xxxxxxxxxxxx xxxx x xxxxxxx xxxxxx x xxxx xxxxxxxxxxx Xxxxxxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxx xxxx, xx xxx Xxxxxx xxx Xxxxxxx xxxx xxxxxxx xxxxxx, xxxx xxx Xxxxxxx xxxxx xxxxxx xxx Xxxxxxxxxxxxxxx xxxxxxxxx xXX Xxxxx, Xxxxxx xxx xx.x.xxxx, x X xxxxxxxx.

• Xxx Xxxx: Xxx Xxxxxxxxx xxxxxx xxxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx. Xxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxx xxx Xxxxxxxx xx Xxxxx xxx xxxx xxx.xxx XXX xxxxx xxx xxx xxxxxxxxx Xxxxxxxxxxx xxx xxxxxxx Xxxxxxxxxxxxxx xxxxxxxxxx. Xxxxx xxxxx xxx Xxxxxxxxx xxxxxxxx xxxx Xxxxxxxxxx xxx xxxxx xxxxxxx Xxxxxxxxxxxx, xxxxxxxxxxxx xxx Xxxxxxxxxx xxx Xxxxxxxxxxx. Xxxxxxxxx xxxxxx xxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxx Xxxxx xxx xxx Xxxxxxxxxxxxxxxx xxx xxx xx xxxxxxxxx Xxxxxxxxxxxxxxx xxx xx xxxx, xxxx xxx Xxxxxxxxx xxxxx xxxxxx xxx Xxxxxxxxxxxxxxx xxxxxxxx. Xxxxx xxxxxxxx xxx Xxxxxxxxx xxxx Xxxxxxxxx xxxxx Xxxxxxxxxxxxxxxxxxxxx xx Xxxx xxx "xxxxxxxxxxxx Xxxxxxxxxxx xxx Xxxxxxxxxxxxxxx xxx xxxxxxxxxx Xxxxxxxxxxxxxxxxxxx xxxxxxx xx xxx Xxx. x XX". Xxx Xxxxxxxxx xxxxxx xxxx xx, xxxx xxx Xxxxx xxxxx Xxxxxx. Xxx Xxxxxxxxx xxxxx xxxxxxxxxxxx, xxx Xxxxxx xxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxx xxxxxxxxx xxxxxxxxxxxx xxx xx xxxxxxx xxx Xxxx xxx.
• Xxxxxxxxxxx: Xxx Xxxxx xxxxxx xxxxx Xxxxxxxxxxxxxxxxx xxx xxxxxx Xxxxxxxxxx xx xxxx xxxxxxxxxx xxxxxxxx, xxx xxx Xxxxxxxxxxx xxx xxxxxxxxxxx Xxxxxxxxxxxxxxxx xxxxxxxxxxxx xxx xXxxxxxxxxxxxxxxx. Xxx xxxxxxxxxxxxxxxxxx Xxxxxx xxxxx xxx Xxxxxxxxxxxxxxxx xxx Xxxxxxxxxxx xxxx xxx Xxxxxxx xxxxx xxx Xxxxxxxxxxxxxxx. Xxxxxxxxxxxx xxx Xxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxx xxx xxxxx Xxxxxxxxxxxxxxxxx xxxxx xxxxxxx Xxxxx xxxxxxxxxxx. Xxx xxxx xxx Xxxxxxxxxxxxxxx xxxxxxxxxxxx xxx xxxxxxxxxxx xxxxxxxxxx Xxxxxxxxxx xxx xxxxxxxx xx xxxxx Xxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxxxx xxxxxxxxxxx. Xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxx xxxx xxxxxxxx xxxxxxxx xxxxxxxx xxxx, xxxx xxx xxxxxxxxxxxx Xxxxxx xxx Xxxxxxxx xxxxxxxxxxxx xxxxxxxxxxxxx, xxxx xxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxx xx xxxxxxxxxxxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxxxxxx xxx xxxxxxxxx xxxxxxxxxx xx xxxxxxxxxx Xxxxxxxxxxxxxxx xxxxxxxxxxx. Xxx xxxxxxxxxxx Xxxxxxxx xxx Xxxxxxxxxx xxxxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxx Xxxx xxxxxxxxx, xxx xxxxxx, xxx Xxxxxx xxxx xxx xx xxxx xxxxxxxxxxx xxxxxx, xxxx xxx Xxxxxxxxxxxxxxx xxx Xxxxxxxxx xxxx xxx Xxxxxxxxxx xxxxxxxxxx xxxxxx.

XXXXXXXXX:xxxxxxXxx Xxxxxxxxx xxx xxxxx xxx Xxxxxx Xxxxxxxx xxxxxxxxx, xxx xxxxx xxx Xx. XX X xxxxx xxxx Xxxxxxxxxxxxxxx xxxxxxxxx xxx.

28. Termingeschäfte - Beschränkung der Verlustverrechnung unzulässig?

Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx, xxxxxxxxxxxx xxx xxx Xxxxxxx xxx Xxxxxxxx, xxxxxxx xxx xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxx xxx Xxxxxxxxx xxx Xxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxx. Xxxxx xxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxxx xxx xx.xxx XXX. Xxxxx xxxxxxxxxxx Xxxxxxxx xxxxxxx xxx Xxxxxxxxxx xxxxxxxxxxx xxxxxx xxx xxxxxxx xx Xxxxx xxx xx.xxx XXX xxx Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxx Xxxxxxxxxxxxxxxxxxx xxxxxxxxxx xxxxxx. Xxxxxxxx xxx Xxxxxxxxxxxxxxxxx xxxxxxx xxxxx xxx xxxxxxx Xxxxxxxxxxxxxxxx xxxx xxx xxxxxxx Xxxxxxxxxxx xxxxxxxxxx xxxxxx xxx xx Xxx. x Xxxx x XXxX x.x.X. xxx Xxxxxxxxxxxxxxxxxxxx xxxxx. Xxx Xxxxxxxxxxxxx xxxx xxxx xxx x.x.xxxx.

XXXXXXX xxx xxx Xxxxxxxxxxxxxxx x xxxx xxxx xxx xx xxxxx Xxxxxxxxx xxx xxxxxxxxxxxx Xxxxxxxxxxxxxx x Xxxxxxxx xxxxx xxx xxxxxxxxxxxxxxx Xxxxxxxxxxxxx xxx Xxxxxxxxxxxxxxxxxx xxxxxxxxxx. Xx xxxxx xxx xxxx xxxxxxxxxxxxxxxxx xXXXxXxxxxxxxx xxx x.x.xxxx, XXXX X xxxxxx xXxXxx.

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