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V1203-24 28 May 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · valor de adquisición

Acquisition value of inherited property determined by Inheritance and Gift Tax rules

A taxpayer has requested clarification on how to calculate the acquisition value of a property inherited in 2011 to determine capital gains or losses upon its sale. The Directorate General for Taxes (DGT) clarifies that, as the acquisition was made for gratuitous consideration, the regulations governing Inheritance and Gift Tax must be applied.

The question raised

Acquisition value of said property for the purposes of calculating the capital gain or loss in the Personal Income Tax.

The DGT's ruling

The acquisition value of the inherited property shall be that resulting from the application of the Inheritance and Gift Tax regulations, not exceeding the market value on the date of death. To this amount shall be added the cost of investments, improvements, and expenses or taxes inherent to the acquisition, excluding interest. The date of acquisition is understood to be the moment of the death of the decedent.

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