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V0154-26 27 January 2026 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · ganancias patrimoniales

Gains from selling assets may be exempt if reinvested in a lifetime income stream

An 85-year-old taxpayer asks about the conditions for exempting proceeds from property sale reinvested in a lifetime income. The DGT explains that the six-month period, amount limits, and periodicity and contractual conditions set out in law and regulations must be met.

The question raised

Requirements for applying the exemption for reinvestment in life annuities.

The DGT's ruling

For the exemption, the amount obtained must be allocated within six months to an insured life annuity, with a limit of 240,000 euros. The contract must be entered into with an insurance entity, have an annual or shorter periodicity, and the annuities may not decrease by more than 5% annually. If reversion mechanisms, certain periods, or counter-insurance exist, the limits of the ninth additional provision of the RIRPF must be respected.

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