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V1665-25 16 September 2025 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · nuda propiedad

Acquisition value of bare property and usufruct set by Inheritance and Gifts Tax

The consultant asks how to determine the acquisition value of bare property and usufruct of an inherited property for calculating capital gain upon sale. The Tax Authority responds that, as it is a lucrative acquisition, the values from the Inheritance and Gifts Tax will apply.

The question raised

Requests to know the acquisition value of the bare ownership and the usufruct for the purpose of determining the capital gain or loss in the Personal Income Tax.

The DGT's ruling

Since the acquisition was made for gratuitous consideration, the acquisition value of the bare ownership and the usufruct shall be that resulting from the application of the Inheritance and Gift Tax rules, not exceeding the market value. To this amount, investments, improvements, and expenses inherent to the acquisition shall be added. Likewise, the usufructuary must reduce said acquisition value by the amount of the tax-deductible amortizations.

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