Practical case

Mr. APG has obtained the following income in 2024:

• 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 to be included in the taxable savings base: –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 2020: 600
• Negative net balance of capital gains and losses arising from the transfer of assets corresponding to 2020: 700
• Negative capital gains pending offset from 2020 in the savings tax base: 500
• Negative net balance of capital gains and losses arising from the transfer of assets corresponding to 2021: 2,100

Carry out the integration and compensation of said income in the 2024 tax return.

Solution:

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

1. Income and income allocations for the year 2024:

   • Job: 50,000
   • Economic activity: -5.000
   • Imputation of real estate income: 300
   • Net balance (50,000 – 5,000 + 300) = 45,300

2. Capital gains and losses for the year 2024 to be included in the general tax base:

   • Profits: 4.500
   • Losses: 9.600
   • Negative net profit and loss balance for the year 2024 (4,500 -9,600) = – 5,100

3. Offset of the negative balance of capital gains and losses for the year 2024:

   Compensation of the negative net balance of 2024: 5.100

4. Offsetting negative items from previous years:

   Compensation for negative net balance losses 2020: 600

5. Total compensations (5,100 + 600) ⁽¹⁾ = 5,700

   The maximum offset amount for negative net balances of capital gains and losses for 2020 and 2024 is 25 percent of the positive balance of income and income imputations before such offsets. In this case 11,325 euros (25 per 100 s/45,300). Therefore, the entire outstanding amount (5,700 euros) can be offset.

6. General tax base (45,300 – 5,700) = 39,600

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

1. Capital gains and losses for the 2024 financial year to be included in the savings tax base:

   • Profits: 5.600
   • Losses: 1,600
   • Positive net profit and loss balance for the year 2024: (5,600 – 1,600) = 4,000

2. Offsetting the negative balance of capital gains for the year 2024:

   Negative capital gains attributable to 2024⁽²⁾: 800

   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.

3. Offsetting negative net balance of capital gains and losses from previous years:

   • Compensation of negative net balance of losses 2020: 700
   • Compensation for negative net loss balance 2021: 2,100

4. Compensation of negative net balance of capital gains from 2020⁽³⁾: 200

   Negative capital gains from 2020 can be offset against the positive balance of capital gains and losses from 2024 up to a combined limit of 25 percent of that balance. In this case, up to 200 euros, since the compensation for the negative balance of capital income for the 2024 financial year amounted to 800 euros and the limit was 1,000 euros (25 per 100 s/4,000).

5. Total compensations (700 + 2,100 + 200) = 3,000

6. Compensation to be made (up to the amount of the positive balance): (800 + 3,000) = 3,800

7. Taxable savings base (4,000 – 3,800) = 200