The theft of an asset allows for the deduction of a capital loss in Personal Income Tax (IRPF)

The Directorate General of Taxes (DGT) has clarified the tax treatment that must be applied when an individual suffers the theft of an asset, a situation that raises doubts regarding the possibility of deducting said loss in the Personal Income Tax (IRPF) return.

What the DGT has resolved

The ruling establishes that the theft of an asset constitutes a capital loss, in accordance with the provisions of Article 33.1 of Law 35/2006 (LIRPF). Since it does not involve a transfer of assets, this loss is not included in the savings taxable base, but must be computed in the general taxable base, pursuant to Articles 45 and 48 of the aforementioned regulations.

To determine the exact amount of the loss, the DGT points out that a specific calculation must be performed:

• Start with the acquisition price of the asset.
• This price must be reduced by the depreciation resulting from use.
• The objective is to reach the market value the asset had at the exact moment of the theft.

What this means for you

If you are an individual who has suffered the loss of an asset due to theft, you have the right to include that loss in your general taxable base to reduce your tax burden. However, applying this criterion requires rigorous documentary management. The regulations require that both the occurrence of the theft and the value assigned to the asset be duly proven through evidence admitted in Law.

What you should do

In a situation like this, it is fundamental to have the documentation that supports the ownership and the value of the stolen asset. It is necessary to keep the corresponding police report and any supporting document that allows for the accreditation of the acquisition price and the state of conservation of the object to determine its market value at the time of the incident. Since the calculation of depreciation due to use is a determining factor, it is important to assess each particular case to ensure that the computed loss is correct.