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A person over 65 inquires about the tax treatment of selling a home in which they hold 50% full ownership and 16.67% usufruct. The DGT states that the home exemption only applies to full ownership, and the usufruct portion is subject to capital gains tax.
Question posed: Tax treatment of the sale and application of the exemption under Article 33.4.b) of the LIRPF or, failing that, the reduction coefficients.
The exemption under Article 33.4.b) of the LIRPF for individuals over 65 requires that the taxpayer has held full ownership of the primary residence for at least three years. Therefore, the capital gain from the transfer of life usufruct is not exempt, although the portion corresponding to full ownership could be. For the usufruct, the acquisition date is that of the decedent's death. Regarding full ownership acquired before 1994, the transitional regime of the ninth transitional provision of the LIRPF could apply.
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