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V2055-23 13 July 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · exención por reinversión

The exemption for reinvestment in a dwelling under construction may be applied if investment and construction deadlines are met

A taxpayer inquires whether they may apply the reinvestment exemption when selling their primary residence to purchase another under construction together with their spouse. The DGT clarifies that a dual condition must be met: the amount must be reinvested within a two-year period and the construction must be completed within the four-year period established in the Regulations.

The question raised

Question posed: Possibility of applying the exemption for reinvestment in a primary residence.

The DGT's ruling

For the exemption regarding the construction of a future dwelling, a dual condition must be met: 1) applying the entirety of the amount obtained to the construction within a two-year period (prior to or following the sale) and 2) that the dwelling is constructed within the timeframes set forth in Article 55 of the RIRPF (a maximum of four years from the commencement of the investment). Both the proceeds from the sale and the amount obtained through a mortgage loan are considered reinvested amounts. In the event of partial reinvestment, only the proportional part of the gain shall be excluded.

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