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V1761-18 18 June 2018 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancias y pérdidas patrimoniales

Capital loss from a road accident may be calculated using the vehicle's market value

A taxpayer has enquired whether they can declare a capital loss after selling a vehicle for a price lower than its estimated value following an accident. The DGT has ruled that the acquisition value must be the market value of the vehicle at the time of the accident.

The question raised

Given the estimation that the value of their vehicle at the time of the accident (applying the average sale prices applicable in the management of the Transfer Tax and Documented Legal Acts Tax, Inheritance and Gift Tax, and Special Tax on Certain Means of Transport) was €1,580.00, the question is raised regarding the possibility of computing a capital loss.

The DGT's ruling

To determine the capital gain or loss in an onerous transfer, the difference between the acquisition value and the transfer value must be calculated. As it is a durable consumer good, the acquisition value must be reduced by its use, therefore the value to be taken into account shall be the market value of the vehicle at the time of the accident. The result shall be included in the savings tax base.

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