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V2507-17 5 October 2017 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Losses from share sales can be offset against gains from different shares

The taxpayer asks whether a loss from selling Telefónica shares can be offset against a gain from selling Enagás shares, and if they can repurchase the latter within two months. The Directorate General for Taxes (DGT) confirms that offsetting is permitted and that the rule prohibiting the recognition of losses does not apply because the sale of Enagás shares would result in a gain.

The question raised

Whether the capital loss obtained from the sale of Telefónica shares can be offset against the capital gain that would be obtained from the sale of Enagás shares, and, in that case, whether the Enagás shares can be repurchased before two months have elapsed.

The DGT's ruling

Losses from the sale of Telefónica shares are integrated and offset against gains from the sale of Enagás shares in the savings tax base of the same fiscal year or in subsequent years. The prohibition on computing losses under Article 33.5.f) of the LIRPF does not apply to the sale of Enagás shares, as said rule prevents the integration of losses when homogeneous securities are acquired, but not when the transfer generates a gain.

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