Selling an inherited property will be taxed as an onerous transfer for Personal Income Tax (IRPF)

There is a recurring doubt among taxpayers regarding the nature of the transfer of assets that were previously acquired through succession. The Dirección General de Tributos (DGT) has addressed this issue to determine whether the sale of an inherited property should be declared as an onerous or lucrative operation for Personal Income Tax (IRPF).

What the DGT has resolved

The advisory body determines that the transfer of a property carried out through a sale constitutes, unequivocally, a transfer for consideration (onerous transfer). The fact that the asset had been previously acquired through inheritance does not modify the nature of the current sale operation.

The DGT specifies that the inheritance only has a technical impact on the determination of the acquisition value of the asset. This value will be calculated following the rules of Inheritance and Gift Tax, always subject to the limit of not exceeding the market value at the time of the original transfer.

What it means for you

If you are an individual deciding to sell a property that you received through inheritance, you must declare said operation as an onerous transfer in your IRPF tax return. This distinction is fundamental for the calculation of capital gains or losses.

The key lies in the difference between the way you received the asset (lucrative, through inheritance) and the way you transfer it (onerous, through sale). To calculate the result of the operation, you must subtract the acquisition value (the value declared in the inheritance) from the transfer value (the sale price), respecting the legal limits established in the IRPF Law.

What you should do

In the event of an operation of this type, it is necessary to verify that the acquisition value declared in the inheritance is correct and coincides with what is set out in the Inheritance and Gift Tax regulations. It is essential to have the documentation that proves both the value of the inheritance and the sale price to avoid discrepancies with the Tax Administration in the calculation of the IRPF taxable base.