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V2215-23 27 July 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Donation value must be used to calculate capital gains on the sale of donated assets

A taxpayer inquired whether the capital gain on a sold property should be calculated using the original donation value or the value assigned during inheritance following the donor's death. The Directorate General for Taxes (DGT) ruled that the value resulting from the donation must be used.

The question raised

Given that the property was sold on June 24, 2020, the question is what the acquisition value of the gifted portion is, for the purpose of determining the capital gain or loss in the Personal Income Tax: the value set in the deed of gift and in the Gift Tax self-assessment, or the value referred to in the partition deed and incorporated in the Inheritance Tax self-assessment.

The DGT's ruling

For transfers for consideration, the acquisition value is that resulting from the application of the rules of the Inheritance and Gift Tax. In this case, as it concerns an acquisition by gift, the actual amount is the value declared in the Gift Tax self-assessment (or that verified by the Administration if it were higher), not exceeding the market value. The value subsequently assigned in the succession does not substitute the value of the gift for this calculation.

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