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V1311-19 ·6 June 2019 ·consulta-vinculante Medium impact
Tax

No requirement to adjust main residence tax deduction if refunded amounts were not part of the deduction base

A taxpayer inquired whether they must adjust their 2015 and 2016 tax returns following the refund of interest related to floor clauses. The DGT ruled that the deduction does not need to be adjusted if the amounts did not effectively form part of the deduction base due to a zero tax liability; however, refunded legal costs are considered a capital gain.

In 6 key points

How it affects those involved

This ruling clarifies that taxpayers do not need to recalculate tax deductions for main residence investments if the refunded amounts (such as floor clause interest) did not impact the actual deduction base, though legal costs must be reported as capital gains.

Lifecycle

2019-06-06PublishedPublished 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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