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V1492-18 1 June 2018 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · copropiedad

Gains from investment fund redemptions in joint ownership are attributed to each co-owner according to their share

A query was raised regarding whether the redemption of shares in an investment fund held in joint ownership can be attributed solely to the beneficiary co-owner. The DGT ruled that the gain must be attributed to each co-owner according to their respective share, unless a prior division of the joint ownership is carried out.

The question raised

In view of the proposed redemption of shares, it is asked whether the capital gain obtained can be imputed solely to the co-holder for whose benefit it is carried out.

The DGT's ruling

Gains or losses arising from the redemption of shares in an investment fund must be attributed to each co-holder in proportion to their share in the co-ownership. However, if a partial dissolution of the co-ownership is carried out by allocating the shares to the co-holder without excess, there is no change in assets. Following this allocation into exclusive ownership, any subsequent redemption will only have tax consequences for said holder.

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