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V1329-26 29 May 2026 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · nuda propiedad

Donation of bare property creates capital gain or loss in personal income tax

A couple wishes to donate the bare property of a garage to their daughter, retaining the usufruct. The DGT states that this transaction generates a capital gain or loss due to changes in the composition of assets.

The question raised

Taxation of the donation under Personal Income Tax.

The DGT's ruling

The gain or loss is calculated as the difference between the transfer value of the bare ownership and its acquisition value. The transfer value shall be that resulting from the application of the Inheritance and Gift Tax regulations, without exceeding the market value. To separate the value of the usufruct and the bare ownership, the valuation rules of the Inheritance and Gift Tax shall apply. If a capital loss exists, it shall not be accounted for as it constitutes a lucrative transfer.

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