CAPITAL GAIN. When can the mortgage cancellation be deducted?
- Alexandre Strumeyer
- Nov 6
- 1 min read
When selling a primary residence, the outstanding balance of the mortgage may be subtracted from the sale price to calculate the capital gain, provided that:
The property sold has been the taxpayer’s habitual residence (lived in for ≥ 3 years or with justified reasons for the change).
The mortgage was linked to the purchase of that property (not loans for other purposes).
This is not a deduction as such, but it reduces the profit and, therefore, the income tax (IRPF) payable.
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