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The inquirer asks whether the loss of earnest money (arras) paid in a residential property sale contract constitutes a capital loss and in which tax year it must be declared. The Directorate General for Taxes (DGT) responds that it is indeed a capital loss and must be reported in the tax year in which the ownership of the funds is lost.
This ruling clarifies the tax treatment of earnest money forfeited due to a breach of contract, confirming its classification as a capital loss for Personal Income Tax (IRPF) purposes and establishing the correct timing for its declaration.
The tax team reviews your specific situation.
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