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V2834-23 19 October 2023 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · renta del ahorro

Capital gains from investment funds can be offset against losses from share sales

A taxpayer inquired whether capital gains from the sale of investment fund units can be offset against capital losses from the sale of shares. The Directorate General for Taxes (DGT) ruled that both transactions generate savings income and are therefore offsettable against each other.

The question raised

1st. Whether it is possible to offset capital gains from the sale of shares in an investment fund against capital losses that would be generated by the sale of stocks.

The DGT's ruling

Capital gains and losses derived from the transfer of shares in investment funds and stocks constitute savings income. As they form part of the same taxable base, capital losses may be offset against capital gains obtained in the same tax period, pursuant to Article 49 of the Personal Income Tax Law.

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