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V0157-21 2 February 2021 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Two separate acquisition dates and values required when selling a property with both inherited and purchased shares

Siblings seeking to dissolve a co-ownership by transferring their shares to a fourth sibling consulted on which acquisition value to apply for Personal Income Tax (IRPF) purposes. The Directorate General of Taxes (DGT) ruled that, because some shares were acquired through inheritance and others through onerous transfer, two distinct dates and values must be applied.

The question raised

Question raised: They wish to know the acquisition value for the purpose of determining the capital gain or loss in the Personal Income Tax for the three siblings who transfer their share in favor of the fourth. They doubt whether it would be the original valuation from 2005 or the current valuation as of the date of the dissolution of the co-ownership.

The DGT's ruling

The transfer of shares generates a capital gain or loss based on the difference between the acquisition and transfer values. For the inherited portion, the acquisition date is the death of the decedent and the value is that determined by the Inheritance and Gift Tax regulations. For the portion acquired for consideration from siblings, the acquisition value is the actual amount of the acquisition plus expenses and investments. Maintenance expenses do not form part of the acquisition value.

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