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V2771-23 10 October 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · valor de adquisición

Depreciation must be deducted from property value to calculate the acquisition cost of inherited or gifted shares

The taxpayer inquired how to calculate the acquisition value of a property consisting of different shares of bare ownership, consolidated usufruct, and a gift, and which depreciation to deduct. The DGT ruled that three distinct acquisition dates and values must be identified, deducting depreciation from the moment each share became full ownership.

The question raised

The question is raised as to what the acquisition value of the dwelling is. Specifically, the depreciation that must be deducted to calculate it.

The DGT's ruling

For real estate acquired gratuitously, the acquisition value is the value according to Inheritance and Gift Tax plus expenses and investments, reduced by depreciation. Depreciation is deductible from the moment the taxpayer holds full ownership of each part. In the case of bare ownership consolidated upon the death of the usufructuary, the acquisition date is that of the original bare ownership. The accumulated depreciation limit may not exceed the acquisition value excluding the land.

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