Selling a house may seem, in principle, a simple operation: it is a buyer, a price is agreed, it is signed before a notary and the key is delivered. However, what many owners do not Take into account is that, once the sale is closed, they also begin a series of tax obligations that should not be overlooked. The Tax Agency has launched a very clear and direct notice: who sell a floor or house They must keep in mind a series of taxesespecially The personal income tax that could imply considerable payment if certain exemptions are not contemplated.
Taking into account these taxes is currently more important than ever, if we take into account that we are in full declaration campaign of rent, so it is now when many taxpayers face doubts about how to correctly declare the sale of their home. Although it is a frequent operation, it is not always known in detail when it is obliged to pay and when one can benefit from some exception. In this way, ignorance can end up translating in sanctions or unexpected payments. Take note then, because if you have sold your home in the last year (or want to do it shortly), it is convenient be well informed about what Hacienda says about it. IRPF can be a headache, but there are also cases in which it is possible to be exempt. We are going to review, clearly and closely, what the Tax Agency says, what taxes are applied, who is obliged to pay and, most importantly, who can legally free to do so.
Urgent notice of the Tax Agency for IRPF
The Tax Agency recently recalled that, when selling a property, there are three taxes that affect the seller. The first of these is the Real Estate Tax (IBI), which is normally divided between buyer and seller in proportion to the time that each has been the owner of the property during the year the sale occurs. That is, if the operation is carried out in June, it is usual for the seller to assume half of the IBI of that year, and the buyer the other half.
The second tax is the municipal surplus value, Technically known as the tax on the increase in the value of urban lands. This tax is paid to the City Council and must be paid within 30 business days after the signing of the sale. The amount depends on the time that the seller has owned and the cadastral value of the land.
And finally, there is the dreaded IRPF. In the income statement corresponding to the year in which the property was sold, the taxpayer must declare the possible patrimonial gain obtained, that is, the difference between the sale price and the acquisition, discounting certain expenses. This is where many doubts arise, because you do not always have to pay, and in some cases the operation should not even be declared.
Important exemptions for over 65 and more
Despite these taxes, and especially the IRPF, the Tax Agency also clarifies that not all who sell a house are obliged to pay for the profit obtained. There are several situations in which IRPF does not apply, which can mean considerable savings. The most outstanding is the one that affects the people over 65 years. If a person in that age range sells their usual home, is automatically exempt from paying for the gain, regardless of how much you have won with the operation.
The same goes for people in severe dependence or great dependence officially recognized. In these cases, the regulations also allow not to declare that patrimonial gain. The objective of this measure is to protect vulnerable groups and prevent operations necessary for your well -being to have an unfair tax burden.
Another exemption assumption is that of reinvestment in habitual housing. If you sell your home and in a period of two years you buy another to use it as your new habitual residence, you can host this tax advantage. Of course, both the house that is sold and the one purchased must meet certain requirements: they must be the habitual residence of the taxpayer and, in general, it must have lived in the previous one for at least three years. If only part of the money is reinvested, the exemption will be proportional.
Other situations that allow you to be exempt from IRPF
In addition to the best known assumptions, there are other special circumstances that allow them not to pay for the sale of a home. One of them is the call dation in payment, which occurs when A house is delivered to the bank to settle a mortgage debt. In this case, provided that an insolvency situation can be demonstrated and that there are no other goods to deal with the debt, there is no obligation to declare any patrimonial gain.
It is also possible to accept the exemption if the sale of the habitual home occurs to buy anothereven if this new house is in the process of rehabilitation. The Tax Agency recalls that it is essential to expressly express the will to benefit from the exemption for reinvestment, and include all the necessary data in the income statement.
Of course, it is convenient to keep in mind an important nuance: If the amount of reinvestment is less than the total obtained in the sale, the exemption will only apply proportionally. That is, only the part of the benefit that has been reinvested will be free to pay. This precision, which appears on the Treasury website, has been key to clarifying many doubts in previous years.
Key boxes and common errors
One of the most frequent doubts that taxpayers have is how to reflect all this information in the income statement. The Tax Agency and the OCU have also recalled the importance of correctly filling the corresponding boxes. In cases where there are economic activities linked to the home sold (for example, if a professional consultation or office was there)it is necessary to include the cadastral reference in box 1626, among others.
If there has been no patrimonial gain (because it has been sold for the same price that was bought, or even for less), It is not necessary to declare the operation in the IRPF. However, if there is a gain and the conditions for exemption are not given, omitting that information could lead to sanctions by the Treasury.
Therefore, it is Fundamental to carefully review all draft data and not assume that the Treasury has everything covered. Although the Income Web program greatly facilitates things, errors by omission or incorrect interpretation remain frequent, so that we must be attentive and in case we are not going to fail, it will be good to have the advice of an expert.
