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V1346-24 7 June 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · nuda propiedad

Two separate acquisitions must be considered when calculating capital gains on the sale of a property

A taxpayer inquired about the taxation of a property sale involving bare ownership acquired in 1982 and a life interest purchased in 1990. The Directorate General for Taxes (DGT) ruled that these constitute two independent acquisitions with distinct dates and values for calculating capital gains or losses.

The question raised

Taxation of the sale of a dwelling under Personal Income Tax.

The DGT's ruling

The consolidation of full ownership through the subsequent onerous acquisition of the usufruct generates two distinct acquisitions: the bare ownership and the usufruct. To determine the capital gain or loss, the portion of the transfer value corresponding to each component must be distinguished, based on its normal market value at the time of disposal. Likewise, if the reduction provided for in the ninth transitional provision of the Personal Income Tax Law applies, the breakdown of the transfer value must be carried out according to each acquisition.

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