Doctrine by topic · DGT Observatory

Offsetting of Income: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Settled doctrine High confidence 19 rulings · 2014–2025

Current position

Capital losses are first offset against capital gains from the same tax year. If a negative balance persists, it may be offset against the positive balance of income from movable capital, subject to a limit of 25 percent of said balance. The remaining negative balance may be offset in the following four years.

The DGT's position remains constant in the application of article 49 of the LIRPF (Personal Income Tax Law). The rulings confirm the separation of bases, where capital losses do not offset income from work and only offset income from movable capital under the legal limit. No changes in criterion are observed, but rather the application of current regulations to different scenarios.

Analysis based on 18 of 19 rulings with a stated position. Updated 25 September 2026.

Rulings on this topic

19
V2084-25 5 Nov 2025

Gains and losses from the dissolution of companies can be offset

SG de Impuestos sobre la Renta de las Personas Físicas
ganancia patrimonialpérdida patrimonialdisolución de sociedadesliquidación socialbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 37.1.e)
Affects CompanyExpat · Non-residentIndividual
V1878-25 14 Oct 2025

Loss from property sale offsets savings income base

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialrenta del ahorrobase imponible del ahorrocompensación de rentastransmisión de elementos patrimoniales LIRPF — Ley 35/2006 del IRPF art. 33LIRPF — Ley 35/2006 del IRPF art. 44
Affects CompanyExpat · Non-residentIndividual
V2330-24 8 Nov 2024

Losses from property sales are offset against the savings tax base

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialrenta del ahorrobase imponible del ahorrocompensación de rentastransmisión de elementos patrimoniales LIRPF — Ley 35/2006 del IRPF art. 33LIRPF — Ley 35/2006 del IRPF art. 44
Affects CompanyExpat · Non-residentIndividual
V1982-23 7 Jul 2023

Spouses may offset capital gains and losses if they opt for joint taxation

SG de Impuestos sobre la Renta de las Personas Físicas
tributación conjuntaganancia patrimonialpérdida patrimonialunidad familiarcompensación de rentas LIRPF — Ley 35/2006 del IRPF art. 47LIRPF — Ley 35/2006 del IRPF art. 48
Affects CompanyExpat · Non-residentIndividual
V1321-20 8 May 2020

Spouses may offset capital gains and losses if opting for joint taxation

SG de Impuestos sobre la Renta de las Personas Físicas
tributación conjuntaganancias patrimonialespérdidas patrimonialesunidad familiarcompensación de rentas LIRPF — Ley 35/2006 del IRPF art. 1LIRPF — Ley 35/2006 del IRPF art. 47
Affects CompanyExpat · Non-residentIndividual
V0094-20 17 Jan 2020

Losses from property sales can be offset against gains from share sales

SG de Impuestos sobre la Renta de las Personas Físicas
renta del ahorroganancia patrimonialpérdida patrimonialbase imponible del ahorrotransmisión de elementos patrimoniales LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 34
Affects CompanyExpat · Non-residentIndividual
V3401-19 12 Dec 2019

Losses from property sales cannot be offset against pension plan benefits

SG de Impuestos sobre la Renta de las Personas Físicas
rendimientos del trabajoganancias y pérdidas patrimonialesbase imponible generalbase imponible del ahorroplan de pensiones LIRPF — Ley 35/2006 del IRPF art. 17.2LIRPF — Ley 35/2006 del IRPF art. 44
Affects CompanyExpat · Non-residentIndividual
V2214-16 23 May 2016

2012 subordinated debt losses may be offset against 2014 investment income

SG de Tributación de las Operaciones Financieras
deuda subordinadarentas negativasrendimientos del capital mobiliariopérdidas patrimonialesbase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 48.bLIRPF — Ley 35/2006 del IRPF art. 49.1
Affects CompanyExpat · Non-residentIndividual
V3264-14 4 Dec 2014

Negative returns from preferred shares may be offset against capital gains

SG de Tributación de las Operaciones Financieras
participaciones preferentesrendimientos del capital mobiliarioganancias patrimonialesbase imponible del ahorrocompensación de rentas LIRPF — Ley 35/2006 del IRPF art. 25.2LIRPF — Ley 35/2006 del IRPF art. 46.a
Affects CompanyExpat · Non-residentIndividual

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