A question put to Serapeum concerns the equal treatment of the community-property and separate-property matrimonial regimes. It relates to capital gains.
How are cash payments or awards of property treated for tax purposes when the separate-property regime ends by operation of law or court order?
No capital gain or loss is recognised when the separate-property matrimonial regime ends and, by operation of law or court order, one spouse makes a cash payment or awards property to the other for a reason other than compensatory maintenance between spouses. The payment does not entitle the payer to reduce their taxable income and does not constitute income for the recipient.
In no case may this treatment result in an adjustment of the acquisition values of the assets or rights awarded. In other words, taxation is deferred until the awarded asset is later transferred, and its original acquisition value is retained.
Legislation and guidance
Article 33(3)(d) of Law 35/2006 of 28 November, as amended by Law 26/2014 of 27 November.
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