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V1342-24 7 June 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · exención por reinversión

Capital gains on sale of main residence are taxable if the new home is acquired via inheritance

The applicant asks whether they can apply the exemption for reinvestment in a main residence by subrogating into the mortgage of an inherited property. The DGT rules that, as the new home is acquired free of charge, the reinvestment required by the regulation does not occur.

The question raised

Whether, for the purposes of applying the exemption for reinvestment in a primary residence, it is possible to consider the portion of the mortgage into which subrogation has occurred as a reinvested amount.

The DGT's ruling

For the exemption to apply, it is necessary to reinvest the total amount obtained in the acquisition of a new primary residence. Given that the property that will constitute the new residence has been acquired through inheritance (gratuitous title), the requirement to reinvest the amount obtained from the sale of the previous residence is not met. The capital gain shall be subject to taxation, unless the amount is reinvested in the acquisition of a new primary residence within a period of two years.

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