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V1762-20 ·3 June 2020 ·consulta-vinculante Medium impact
Tax

Deduction of 3% depreciation on the acquisition cost of inherited life usufruct permitted

A taxpayer inquired whether they could deduct the depreciation of a life usufruct on an inherited property that is currently being rented out. The Directorate General for Taxes (DGT) ruled that, as it is a life interest, the taxpayer may deduct 3% of its acquisition cost.

In 5 key points

How it affects those involved

This ruling clarifies the tax treatment for taxpayers holding life usufruct rights on inherited properties, confirming their eligibility to claim depreciation against rental income.

Lifecycle

2020-06-03PublishedPublished 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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