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V1419-24 13 June 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Acquisition date for inherited property is the date of death for capital gains tax purposes

A taxpayer inquired about the values and dates to be used when declaring the sale of a property inherited from their grandfather. The DGT clarified that the acquisition value is that determined by Inheritance and Gift Tax, and the acquisition date is the date of death.

The question raised

Question raised: Taxation of the sale of the property for Personal Income Tax purposes. Which amounts or dates should be used to declare said sale and, in particular, whether the date of acquisition should be considered the date of the grandfather's death or the date on which the inheritance was accepted.

The DGT's ruling

The acquisition value of the inherited property is the real value according to the rules of Inheritance and Gift Tax, not exceeding the market value, plus the expenses and investments paid. The acquisition date is the date of the decedent's death, as the acceptance of the inheritance has retroactive effects. The capital gain or loss is calculated by the difference between this acquisition value and the real transfer value (or market value if the latter is higher).

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