Rental details
Act 12/2023 (in force since 01/01/2024) amended Art. 23.2 LIRPF. Pre-existing contracts retain the 60% reduction.
Deductible expenses
Interest only (not principal)
To estimate the marginal rate applied to rental income
Rental income tax FAQ
What is the 60% reduction on rental income?
The 60% reduction (Art. 23.2 LIRPF) applies to positive net income when the property is the tenant's habitual residence. You only pay tax on 40% of net income. It does not apply to tourist or commercial rentals.
When must the tenant withhold 19%?
When the tenant is a company or professional, they must withhold 19% of the monthly rent and declare it quarterly (form 115). The landlord deducts these withholdings in their annual return.
What expenses are deductible from rental income?
Mortgage interest, IBI, waste tax, community fees, insurance, repairs and maintenance, property depreciation (3% of construction value), and management expenses.
Questions about how to declare rental income in IRPF?
Lexiel explains the 60% reduction (primary residence rental), deductible expenses, withholdings and how to correctly declare real estate capital income.
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