Spanish tax experts warn: joint home purchases, inheritances, and property sales carry hidden fiscal risks
Recent reminders from Spanish tax experts highlight several fiscal pitfalls that taxpayers often overlook. David Jiménez warns that when a couple buys a house jointly but only one partner pays the mortgage, Hacienda may consider the payments a donation, triggering the Inheritance and Gift Tax. To avoid this, he recommends formalizing a loan agreement or acknowledging the donation. In contrast, married couples under the gananciales regime face lower risk. Source: elespanol (first article)
Inheritance and IRPF
Jiménez also clarifies that inherited assets do not incur IRPF at the time of inheritance—doing so would be double taxation—but any income generated later (e.g., rent or sale) is taxable. He stresses that heirs must file the deceased's final income tax return and accurately report acquisition values. Source: elespanol (second article)
Post-Mortem Tax Obligations
Aitor Fernández of TaxDown explains that heirs must file the IRPF for the deceased if the deceased met income thresholds. The tax period ends on the date of death, and refunds over €2,000 require prior integration into the inheritance tax settlement. Failure to file can lead to surcharges of up to 50%. María Hermida of Pazy adds that funeral insurance often covers only the burial, leaving families unprepared for subsequent administrative tasks. Source: elmundoes
Property Sales and Deductions
Two El Confidencial articles address specific scenarios. In a divorce where one spouse sells their 50% share to the other, the seller can deduct notarial, registration, and tax costs from the gain. For those living abroad, the reinversion deduction for selling a main home is generally unavailable if the home was no longer inhabited, even if unrented. Source: elconfidencial (both articles)
These warnings underscore the need for careful fiscal planning in property and inheritance matters.
Sources
5 quotes“Si tenemos una hipoteca a medias tú y yo y soy yo quien paga la hipoteca, te estoy liberando de esa deuda. Por tanto, se presume que hay una donación.”
“Los bienes adquiridos por herencia no tributan en el IRPF. Es decir, que, por recibir una casa, un fondo de inversión o un vehículo, no genera una tributación adicional. Lo contrario supondría una doble tributación.”
“Una gran parte de las familias desconoce que debe presentar la declaración de la renta de un fallecido, lo que puede derivar en errores o en la pérdida de devoluciones.”
“En las transmisiones, la ganancia o pérdida es la diferencia entre el valor de transmisión y el valor de adquisición. ... De ese valor pueden restarse los gastos y tributos inherentes a la transmisión que hayan sido satisfechos por el transmitente.”
“La exención por reinversión está pensada para quien transmite su vivienda habitual y destina el importe obtenido a adquirir o rehabilitar otra vivienda que también vaya a ser habitual.”