7,3,7,1,2. Examples of completion

Example

The taxpayer owns 100% of a property acquired for valuable consideration on 01/01/2003 for 140,000 euros. The expenses and taxes paid on the acquisition are 10,000 euros.

On 01/01/2015 the property is rented to “A” with NIF : XXX already "B" with NIF: YYY. The rent expires on June 30, 2019. The rent is 800 euros per month and the landlord has the right to a 60% reduction. The taxpayer has yet to apply repair costs for 2018 for 1,000 euros.

The property tax receipt, which amounts to 600 euros, contains the following information: cadastral value of the building 80,000 euros, cadastral value of the land 20,000 euros.

Community fees amount to 30 euros per month.

On July 1, 2019, a new contract is signed with “C” with NIF: “ZZZ”. The contract formalization fees are 180 euros. The rent is 900 euros per month. The taxpayer cannot benefit from the 60% reduction.

Completion

The taxpayer will include the property that has been rented and will check the rental box as this was the only use that the property had in 2019.

Since in the fiscal year you have leases with the right to reduction (Type 1) and without the right to reduction Type (2), you must register 2 leases.

The data collection of the Lease signed on 1/1/2015 that expires on 06/30/2019 and that will be Lease 1 of 1 is as follows:

In the Lease Data window, enter:
- The total number of days that the property was rented was 365 (181 days from January 1 to June 30) + (184 days from July 1 to December 31).
- Lease Type: Type 1 would be selected
- Contract date: 01/01/2015
- Tenant's NIF: "XXX" and "YYY"

For this contract signed in 2015 with the tenant "A" and "B" the income generated by that rental and the expenses associated with it will be recorded.

Income: (800*6) = 4,800 euros
Repair and maintenance costs and interest and other financing costs from 2015 to 2018. Amount pending deduction from 2018: 1,000 euros (remember that this box is unique per property, so the program will prorate this amount among all the leases of that property)
Taxes, surcharges and fees: (50*6)=300 euros of the IBI
Community fees: (30*6)= 180 euros
Amortization: In this case, the program calculates it and must reflect the following data:
- Type of acquisition: onerous
- Purchase date: 01/01/2003
- Number of days of duration of the lease contract in 2019: 181 days (from January 1 to June 30)
- Cadastral value: 100,000 euros
- Cadastral value of the construction: 80.00 euros
- Purchase amount: 140,000 euros
- Expenses and taxes inherent to construction: 10,000 euros

The data collection of the Lease executed on 1/7/2019 will be as follows:

Click “Add Lease” to reflect all the data related to that contract. The program will tell you that it is Lease 2 of 2.

In the Lease Data window, enter:
- Total number of days in which the property was rented (the program will transfer the data collected in the other lease) 365 days (181 days from January 1 to June 30 and 184 days from July 1 to December 31).
- Lease Type: Type 2 would be selected
- Contract date: For Type 2 leases it is not necessary to complete it.
- Tenant's NIF: For Type 2 leases it is not necessary to complete it.

For this contract signed in 2019 with the tenant “C”, the income generated by that rental and the expenses associated with it will be recorded.

Income: (900*6) = 5,400 euros
Repair and maintenance costs and interest and other financing costs from 2015 to 2018. The amount pending deduction from 2018 is calculated by the program (since there is only one box per property, the program will prorate the amount of the 1,000 euros pending between all the leases of that property)
Taxes, surcharges and fees: (50*6)=300 euros of the IBI
Community fees: (30*6)= 180 euros
Contract formalization costs: 180 euros
Amortization: You will only have to fill in the number of days the contract lasts, the rest of the data will be transferred by the program.
- Type of acquisition: onerous
- Purchase date: 01/01/2003
- Number of days of duration of the lease contract in 2019: 184 days (from July 1 to December 31)
- Cadastral value: 100,000 euros
- Cadastral value of the construction: 80.00 euros
- Purchase amount: 140,000 euros
- Expenses and taxes inherent to construction: 10,000 euros

Example

The taxpayer owns 100% of a house acquired for valuable consideration on 12/01/2019 for 120,000 euros. The expenses and taxes paid on the acquisition are 6,000 euros. During 2019 he rented the house to:

Tenant "A" 15 days

Tenant "B" 7 days

Tenant "C" 4 days

Tenant "D" 5 days

The rental price is 80 euros per day. The insurance premium is 840 euros per year. The property tax bill amounts to 900 euros per year. The cadastal value of the building is 80,000 euros and that of the land is 20,000 euros.

The taxpayer will include the property that has been rented and will check the rental box as this was the only use that the property had in 2019. In this case, it is not necessary to register a lease for each time the property was rented.

In the Lease Type window, enter:

The total number of days that the property was rented: 31(15+7+4+5)
Lease Type: Type 2 would be selected
Contract date: In the case of Type 2 leases, it is not necessary to complete it.
Tenant's NIF: In the case of Type 2 leases, it is not necessary to complete it.

Income: (15+7+4+5)*80= 2,480
Insurance premium: 840* (31/365)= 71.34
Taxes, surcharges and fees: 900 *(31/365)=76.44
Amortization: In this case it is calculated by the program; To do so, you must reflect the following data:
- Type of acquisition: onerous
- Purchase date: 01/12/2019
- Number of days of duration of the lease contract in 2019: 31 days
- Cadastral value: 100,000 euros
- Cadastral value of the construction: 80.00 euros
- Purchase amount: 120,000 euros
- Expenses and taxes related to construction 6,000 euros