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BASQUE COUNTRY: Deductible depreciation of a rented property

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If you rent a property other than a dwelling, you can deduct its depreciation as an expense on your income tax.

BASQUE COUNTRY: Deductible depreciation of a rented property

One of the most important expenses you can deduct when declaring income from renting properties other than dwellings is the depreciation of the building.

What is the amount of deductible depreciation?

You can account for 3% of the acquisition value as an expense, excluding the land value from the calculation.

Do you not know the value of the land?

If so, there is a way to calculate it:

  • If you are a taxpayer in Araba, you must prorate the acquisition cost between the cadastral values of the land and the construction in the year of acquisition.
  • If you are in Bizkaia or Gipuzkoa, you must prorate the acquisition cost between the cadastral values of the land and the construction for each year.

Is there a limit for depreciation?

Yes. The tax authorities consider that accumulated depreciation cannot exceed the acquisition value of the property.

 If you have properties other than dwellings rented out, our professionals will help you calculate the deductible depreciation.

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