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V2085-24 26 September 2024 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · opción de compra

Granting a call option generates one capital gain, while the subsequent sale generates another

A taxpayer has enquired about the tax treatment of income from a lease agreement with a call option and the applicability of the reinvestment relief. The Directorate General for Taxes (DGT) clarifies that the granting of the call option and the subsequent sale constitute two distinct capital alterations, and that reinvestment relief requires meeting the specific requirements for a principal residence.

The question raised

1st Inclusion in the savings tax base of the amount collected for the granting of the call option right, as well as expenses that may reduce said gain.

The DGT's ruling

The granting of a call option generates a capital gain at the time of its formalization, which is included in the savings tax base. The subsequent transfer of the real estate property through the exercise of the option constitutes a new change in assets. In this second transfer, the amounts previously received for the option and for the rent are deducted from the transfer price if so agreed. For the reinvestment exemption, the dwelling must have been the taxpayer's habitual residence on the date of transfer or during the two preceding years.

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