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V2056-24 25 September 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Exemption on sale of primary residence for those over 65 requires property to be their habitual residence

A taxpayer over the age of 65 inquired whether they could apply for an Income Tax (IRPF) exemption following the sale of their home in Gerona after moving to Madrid. The Directorate General for Taxes (DGT) stated that the exemption is contingent upon the property meeting the requirements of a habitual residence.

The question raised

Question posed: Possibility of applying the exemption for the transfer of a primary residence for individuals over 65 provided for in Article 33.4.b) of Law 35/2006 on Personal Income Tax.

The DGT's ruling

For the capital gain from the transfer of a residence by an individual over 65 to be exempt, the property must be their primary residence at the time of the transfer or have been so on any day during the two preceding years. If both requirements are met (being over 65 years of age and fulfilling the primary residence condition), the gain shall be exempt without the need to reinvest the amount in a new residence.

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