Practical case

Mr. APG has obtained the following income in 2020:

Reduced net labor output: 50,000
Reduced net performance of economic activity: –5.000
Imputation of real estate income: 300
Capital gains to be included in the general tax base: 4.500
Capital loss to be included in the general tax base: 9.600
Negative return on movable capital: –800
Capital gains to be included in the taxable savings base: 5.600
Capital loss to be included in the taxable savings base: 1,600

Likewise, the taxpayer has pending compensation for the following items from the years indicated:

Negative net balance of capital gains and losses not derived from the transfer of assets corresponding to 2016: 600
Negative net balance of capital gains and losses arising from the transfer of assets corresponding to 2016: 700
Negative returns on movable capital for 2016: 500
Negative net balance of capital gains and losses arising from the transfer of assets corresponding to 2017: 2,100

Carry out the integration and compensation of said income in the 2020 tax return.

Solution:

1. Integration and compensation of income in the general tax base:

Income and income imputations for the year 2020:
- Job: 50,000
- Economic activity: -5.000
- Imputation of real estate income: 300
- Net balance (50,000 – 5,000 + 300) = 45,300
Capital gains and losses for the year 2020 to be included in the general tax base:
- Profits: 4.500
- Losses: 9.600
- Negative net profit and loss balance for the year 2020 (4,500 -9,600) = – 5,100
Offsetting the negative balance of capital gains and losses for the 2020 financial year itself:

Compensation of the negative net balance of 2020: 5.100
Offsetting negative items from previous years:
Compensation of negative net balance losses 2016: 600
Total compensations (5,100 + 600) ⁽¹⁾ = 5,700
General tax base (45,300 – 5,700) = 39,600

2. Integration and compensation of income in the savings base:

Capital gains and losses for the year 2020 to be included in the taxable savings base:
- Profits: 5.600
- Losses: 1,600
- Positive net balance of profit and loss for the year 2020 (5,600 – 1,600) = 4,000
Offsetting the negative balance of capital gains from the 2020 financial year:

Negative capital returns furniture attributable to 2020 ⁽²⁾: 800

It cannot jointly exceed, together with the negative net balance of capital gains from 2016, 25% of the positive balance of profits (25% of 4,000 euros = 1,000 euros)
Offsetting negative net balance of capital gains and losses from previous years:
- Compensation of negative net balance of losses 2016: 700
- Compensation of negative net balance of losses 2017: 2,100
Compensation of negative net balance of capital gains from 2016 ⁽³⁾:200

The sum of the capital gains attributable to 2020 ( ) and the negative returns from 2016 (200) do not exceed 25% of the positive balance for the year, which amounts to 1,000, and are therefore offsettable.
Total compensations (700 + 2,100 + 200) = 3,000
Compensations to be made (up to the amount of the positive balance): (800 + 3,000) = 3,800
Taxable savings base (4,000 – 3,800) = 200

Notes to the example:

⁽¹⁾The maximum compensation limit for negative net balances of capital gains and losses for 2016 and 2020 jointly amounts to 11,325 (25%/45,300). ^(Back)

⁽²⁾Negative capital gains for the year will be offset against the positive balance of capital gains and losses for the year from the taxable savings base, with a limit of 25% of said positive balance, which amounts to 1,000 (25% s/4,000). This clears all outstanding balances. ^(Back)

⁽³⁾Negative capital gains from 2016 can be offset against the positive balance of capital gains and losses from the 2020 financial year up to a joint limit of 25% of said balance. In this case, up to 200 euros, since the compensation for the negative balance of capital gains for the 2020 financial year itself amounted to 800 and the limit to 1,000 euros (25 per 100 s/4,000). ^(Back)