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V1614-24 3 July 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · nuda propiedad

Acquisition value of an inherited and consolidated property depends on ISD dates and values

The taxpayer asks how to determine the acquisition value of a property to calculate capital gains after inheriting bare ownership and subsequently receiving the usufruct. The DGT indicates that the value is composed of the amounts resulting from the Inheritance and Gift Tax (ISD) for each element.

The question raised

Request to determine the acquisition value of the property for the purpose of determining a possible capital gain or loss in the Personal Income Tax when the property is transferred in the future.

The DGT's ruling

The acquisition value shall consist of the value resulting from the application of the IHT rules for bare ownership and usufruct, not exceeding the market value, plus investments, improvements, and inherent expenses. There are three possible acquisition dates: the date of the decedent's death for the first part of the bare ownership, the date of the adjudication for the second part, and the date of death or donation for the usufruct, depending on how it is settled in the IHT.

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