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V3112-17 30 November 2017 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancias y pérdidas patrimoniales

Certification of an artwork's falsity does not, in itself, constitute a capital loss

A taxpayer inquired whether a certification stating that an acquired artwork is counterfeit constitutes a capital loss. The DGT ruled that there is no change in the composition of the taxpayer's assets because the painting still belongs to them, even if its value has changed.

The question raised

Existence of a capital loss.

The DGT's ruling

For a capital loss to exist, there must be an alteration in the composition of the taxpayer's assets. The certification of a work's falsity does not entail such an alteration, as the painting remains in the assets but with a different value. The existence of a loss will depend on the outcome of the legal actions initiated against the selling party.

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