Doctrine by topic · DGT Observatory

Secondary Markets: DGT doctrinal evolution

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

← DGT Observatory

How the DGT's position has evolved

Settled doctrine High confidence 9 rulings · 2016–2026

Current position

Losses from the transfer of securities admitted to secondary markets are not recognized if homogeneous securities are acquired in the two months preceding or following the transfer. These losses are only integrated as the securities remaining in the assets are transferred. For integration to be possible, the transfer must be definitive, which implies that no new repurchase must occur within the two-month period.

The DGT's position remains constant in the application of the rule regarding homogeneous securities. The criterion establishes that non-recognizable losses are only integrated through definitive transfers that do not involve a new repurchase within the two-month period. No changes have been observed in the interpretation of the rule since the 2021 rulings.

Analysis based on 7 of 9 rulings with a stated position. Updated 30 September 2026.

Rulings on this topic

9
V0758-26 6 Apr 2026

To offset a 2025 capital loss, the 2025 sale must be definitive

SG de Impuestos sobre la Renta de las Personas Físicas
pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios LIRPF — Ley 35/2006 del IRPF art. 33.5.f)LIRPF — Ley 35/2006 del IRPF art. 33.5.g)
Affects CompanyExpat · Non-residentIndividual

Apply this to your case

Beckham Law & impatriate taxationTalk to the team applying this doctrine daily.
IRPF Spain 2026 CalculatorEstimate the impact on your case in two minutes.
Talk to the tax teamWe check whether this criterion affects you and what it means in your situation.
Email
Contact