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V2057-14 28 July 2014 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · valor de adquisición

Acquisition value of inherited bare ownership shall be the market value at the date of death

A taxpayer inquired how to calculate the acquisition value of a property received through inheritance, consisting of a portion inherited from their mother and another portion from their father (bare ownership). The DGT ruled that, as no inheritance tax was settled for the father's portion, the market value at the date of death must be used.

The question raised

Acquisition value of the undivided half of the dwelling acquired through inheritance from the father.

The DGT's ruling

The acquisition value of assets received gratuitously is that resulting from the application of the Inheritance and Gift Tax regulations, without exceeding the market value. In the case of bare ownership for which no settlement was filed, the actual value shall be the market value on 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, but rather the recovery of the rights of enjoyment by the owner.

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