Doctrine by topic · DGT Observatory

Definitive Transfer: 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 16 rulings · 2015–2026

Current position

Losses from the transfer of securities admitted to trading 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. The transfer is considered definitive when no new repurchase occurs within a two-month period.

The DGT's position has remained constant over time. The criterion establishes that the integration of losses requires a definitive transfer, defined by the absence of a repurchase within a two-month period. No changes in the interpretation of this concept have been observed since 2015.

Turning points

25 February 2021 V0363-21

Introduces a temporal distinction for definitive transfer, noting that for unlisted securities the period is one year.

Analysis based on 15 of 16 rulings with a stated position. Updated 26 September 2026.

Rulings on this topic

16

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

V0754-26 6 Apr 2026

Losses from 2025 share sales carried forward to 2026 upon definitive transfer

SG de Impuestos sobre la Renta de las Personas Físicas

pérdidas patrimonialesvalores 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

V0279-25 13 Mar 2025

Losses from share sales can be recognised if subsequent repurchases are definitive

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios oficiales LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 33.5.f

Affects CompanyExpat · Non-residentIndividual

V0709-24 16 Apr 2024

Offsetting 2022 share losses against 2023 share gains and real estate losses

SG de Impuestos sobre la Renta de las Personas Físicas

ganancia patrimonialpérdida patrimonialvalores homogéneosbase imponible del ahorrorecompra de valores LIRPF — Ley 35/2006 del IRPF art. 33.5LIRPF — Ley 35/2006 del IRPF art. 44

Affects CompanyExpat · Non-residentIndividual

V1760-23 19 Jun 2023

Capital losses from share sales are not deductible if homogeneous securities are repurchased within two months before or after

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompramercados secundarios oficialestransmisión definitiva LIRPF — Ley 35/2006 del IRPF art. 33.5.f

Affects CompanyExpat · Non-residentIndividual

V1274-23 12 May 2023

Capital losses cannot be claimed if homogeneous securities are repurchased within two months before or after the sale

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivabase imponible del ahorro LIRPF — Ley 35/2006 del IRPF art. 33.5LIRPF — Ley 35/2006 del IRPF art. 33.5.f)

Affects CompanyExpat · Non-residentIndividual

V1294-22 7 Jun 2022

Losses from share sales may be recognised if the transfer is final and no repurchase occurs within the following two months

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios LIRPF — Ley 35/2006 del IRPF art. 33.5LIRPF — Ley 35/2006 del IRPF art. 33.5.f)

Affects CompanyExpat · Non-residentIndividual

V1267-22 6 Jun 2022

Losses from share sales in 2021 may be deductible if the disposal of homogeneous securities is final

SG de Impuestos sobre la Renta de las Personas Físicas

pérdidas patrimonialesvalores homogéneostransmisión definitivarecompra de valoresmercados secundarios oficiales LIRPF — Ley 35/2006 del IRPF art. 33.5.f)LIRPF — Ley 35/2006 del IRPF art. 33.5.g)

Affects CompanyExpat · Non-residentIndividual

V1119-21 27 Apr 2021

Losses from share sales are not recognised if homogeneous securities are repurchased within two months

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios LIRPF — Ley 35/2006 del IRPF art. 33.5LIRPF — Ley 35/2006 del IRPF art. 33.5.f)

Affects CompanyExpat · Non-residentIndividual

V0571-21 11 Mar 2021

Capital losses on share sales may be recognised if the transfer is definitive and no repurchase occurs

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios oficiales LIRPF — Ley 35/2006 del IRPF art. 33.5.f)LIRPF — Ley 35/2006 del IRPF art. 33.5.g)

Affects CompanyExpat · Non-residentIndividual

V0363-21 25 Feb 2021

Pending capital losses may be offset if securities transfers are definitive

SG de Impuestos sobre la Renta de las Personas Físicas

pérdidas patrimonialesvalores homogéneostransmisión definitivarecompra de valoresmercados secundarios oficiales LIRPF — Ley 35/2006 del IRPF art. 33.5LGT — Ley 58/2003 General Tributaria art. 89.1

Affects CompanyExpat · Non-residentIndividual

V0030-19 3 Jan 2019

Unrealised capital losses can only be recognised when the transfer of securities is final

SG de Impuestos sobre la Renta de las Personas Físicas

pérdidas patrimonialestransmisión de valoresrecompra de accionesvalores homogéneostransmisión definitiva LIRPF — Ley 35/2006 del IRPF art. 33.5.f)LIRPF — Ley 35/2006 del IRPF art. 33.5.g)

Affects CompanyExpat · Non-residentIndividual

V3282-18 28 Dec 2018

Capital losses on securities transfers are not deductible if homogeneous securities were repurchased within two months before or after

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios LIRPF — Ley 35/2006 del IRPF art. 33LIRPF — Ley 35/2006 del IRPF art. 33.5.f)

Affects CompanyExpat · Non-residentIndividual

V0955-18 11 Apr 2018

Losses from share sales cannot be offset if homogeneous securities were repurchased within two months before or after

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneosrecompratransmisión definitivamercados secundarios oficiales LIRPF — Ley 35/2006 del IRPF art. 33.5.f)LIRPF — Ley 35/2006 del IRPF art. 33.5.g)

Affects CompanyExpat · Non-residentIndividual

V0248-18 1 Feb 2018

Capital losses cannot be offset if homogeneous securities were repurchased in the two months before or after

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneostransmisión definitivarecompramercados secundarios oficiales LIRPF — Ley 35/2006 del IRPF art. 33.5.fLIRPF — Ley 35/2006 del IRPF art. 33.5.g

Affects CompanyExpat · Non-residentIndividual

V0047-15 12 Jan 2015

Losses from share sales may be offset in the year the repurchased securities are definitively sold

SG de Impuestos sobre la Renta de las Personas Físicas

pérdida patrimonialvalores homogéneostransmisión definitivabase del ahorrobase imponible general LIRPF — Ley 35/2006 del IRPF art. 33.1LIRPF — Ley 35/2006 del IRPF art. 33.5 f)

Affects CompanyExpat · Non-residentIndividual

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