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V3264-14 4 December 2014 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · participaciones preferentes

Negative returns from preferred shares may be offset against capital gains

The consultant asks whether negative returns from preferred shares can be offset against capital gains from 2014. The DGT responds that such offsetting is possible under specific conditions.

The question raised

Whether, as of 2014, such negative income may be offset against capital gains.

The DGT's ruling

Negative balances of income from movable capital derived from preferred shares generated before 2015 may be offset against the positive balance of capital gains and losses. If, after this offset, a negative balance persists, it may be offset against the positive balance of capital gains from the transfer of assets in the 2014 tax year. Pending balances from previous years may be offset provided that the four-year period has not expired.

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