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V2046-20 22 June 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Calculating capital gains from the sale of inherited property: determining values and depreciation

A taxpayer has requested guidance on calculating the capital gain from the sale of a building, the bare ownership of which was inherited in 1980. The DGT clarifies that the acquisition value shall be the value at the time of inheritance plus expenses and improvements, which must be reduced by any applicable depreciation during the lease period.

The question raised

Calculation of the capital gain resulting from the disposal of the building.

The DGT's ruling

The capital gain or loss is determined by the difference between the acquisition and transfer values. The acquisition value of the inherited portion shall be the amount resulting from the Inheritance and Gift Tax rules, plus investments, improvements, and inherent expenses, reduced by fiscally deductible depreciation. The acquisition date is the date of the decedent's death. The extinction of the usufruct due to the death of the usufructuary does not constitute a new acquisition.

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