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V0824-23 ·10 April 2023 ·consulta-vinculante Medium impact
Tax

Inheritance taxes and expenses cannot be deducted from Income Tax, but acquisition value may be increased

The taxpayer asks whether they can deduct inheritance taxes, notary fees, and funeral expenses from their personal income tax return. The Directorate General of Taxes (DGT) responds that there is no regulation allowing such deductions, although it is possible to add certain expenses to the acquisition value of the assets.

In 6 key points

How it affects those involved

The ruling clarifies that while inheritance-related costs cannot be used as direct tax deductions, they can be capitalised to increase the acquisition value of inherited assets, potentially reducing future capital gains tax.

Lifecycle

2023-04-10PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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