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V1164-25 1 July 2025 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · rendimientos del capital mobiliario

Returns and gains from a joint shares account are attributed to the legal owner

The DGT clarifies how to calculate income tax on a shares account with two owners after the death of one. The returns and gains are attributed to the holder of legal ownership of the assets.

The question raised

Settlement, for the purposes of Personal Income Tax (IRPF) taxation, of the securities account of a deceased person with two joint holders.

The DGT's ruling

Income from capital and capital gains or losses are attributed to the owners of the assets according to the applicable legal ownership rules. In the event of death, the income and gains corresponding to the deceased's share are attributed to the non-probate estate, the community of heirs, or the beneficiary. Ownership is determined by the evidence provided, the matrimonial property regime, or civil legislation.

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