The Directorate General of Taxes issues a ruling on the dissolution of the joint ownership and the deduction for investment in main residence in Personal Income Tax.

The Directorate General of Taxes has indicated that the deduction for investment in a main residence may be applied at 100% by the co-owner who, already having the right to apply the transitional regime of said deduction, has acquired the rest of the ownership of the property after January 1, 2013, through dissolution of the joint ownership.

The Directorate General of Taxes (DGT) has indicated in its binding consultation V1266-22, of June 6, that the deduction for investment in a main residence may be applied at 100% by that co-owner who, already having the right to apply the transitional regime of said deduction, had acquired the rest of the ownership of the property after January 1, 2013, by dissolution of the joint ownership.

Thus, the Spanish Tax Agency (DGT) indicates that, in order to claim the deduction for the portion of the property acquired after January 1, 2013, that constitutes the taxpayer's main residence, the other co-owner , who ceases to be an owner, must have claimed this deduction in a tax year prior to 2013, in the percentage corresponding to their share in the co-ownership , and must not have exhausted their entitlement to claim the deduction for investment in a main residence by the date the co-ownership was dissolved. The deduction for this portion will be limited to the amount that the former co-owner , who ceases to be the owner of the property, would have been entitled to deduct from the date the co-ownership was dissolved had the dissolution not occurred. 

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A Àmbit Assessor, SL has 40 years dedicated to the tax, comptable and labor consultancy of the Pime.

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