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V1682-20 29 May 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · valor de transmisión

The transfer value of a property is the actual sale amount without deducting the loan principal

A taxpayer asks whether the outstanding mortgage principal should be subtracted from the sale price when calculating capital gains from a property sale. The DGT rules that the transfer value is the actual amount of the disposal and does not allow for the deduction of the outstanding loan.

The question raised

Question posed: Whether the transfer value consists of the sale amount or whether the principal of the loan must be deducted from it, either at 100 percent or only at 59.34 percent.

The DGT's ruling

The transfer value is the actual amount for which the disposal is carried out. From this value, only the expenses and taxes inherent to the transfer paid by the transferor are deducted. In determining the transfer value, the outstanding principal of the loan used to finance the acquisition may not be taken into account.

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