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A taxpayer asks whether they can continue to apply the deduction for investment in their primary residence after canceling their original mortgage and formalizing a new loan with better conditions. The DGT responds that the substitution of one loan for another does not exhaust the right to the deduction, provided that the new capital is used to amortize the previous one.
Question posed: Possibility of continuing to claim the deduction for investment in primary residence for the amounts paid for the amortization of the new loan. If affirmative, whether it can also be claimed based on the global expenses incurred in the cancellation and establishment of each loan, respectively.
The substitution of one loan for another does not imply the conclusion of the investment financing process nor the exhaustion of the deduction possibilities. The installments and expenses of the new loan entitle the taxpayer to the deduction in the proportional part attributable to the amortization of the original loan, provided that the latter was intended exclusively for the acquisition of the residence. However, if there is a debt cancellation and a subsequent obtaining of credit without continuity between the two, the right to the deduction would be lost.
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