Take advantage of the Rent Deductions on your Income Tax Return!

At I-VEO Synergy, we not only help you find your dream home, but we also advise you on how to optimize your finances. Today we want to inform you about an opportunity that many tenants are unaware of: tax deductions for the rental of a main residence in the income tax return.

State Deduction: Up to 10% of Rent

If you signed your rental contract before 1 January 2015, you can deduct up to 10.05% of the amounts paid for the rent in your income tax return, as long as your taxable base does not exceed 24,107.20 euros.

It is important to note that this deduction applies exclusively to contracts prior to that date, and that you will only be able to access it if you already benefited from this deduction in years prior to 2015.

Requirements to Apply the State Deduction

1. Contract signed before 2015: Only valid for contracts prior to January 1, 2015.
2. Income limit: The taxable base must be less than 24,107.20 euros.
3. Justified rent payment: If you share the rental contract with other people, each one can deduct their part as long as they justify the payment.

Regional deductions: Madrid and Catalonia

Each autonomous community has its own deductions, with different requirements and percentages that you can take advantage of depending on where you live.

Community of Madrid

• Young people under 35 years of age: They will be able to deduct up to 30% of the rent, with a limit of 1,237.20 euros per year, provided that the sum of the general bases and savings does not exceed 26,414.22 euros in individual taxation or 37,322.20 euros in joint taxation.
• Tenants over 35 years of age: This same percentage may be deducted if they have been unemployed for at least 183 days and bear family responsibilities of two or more people.

Catalonia

• Deduction of 10%, with a maximum of 300 euros per year, for tenants who:
• Are 32 years old or younger.
• Have been unemployed for more than 183 days.
• Have a disability equal to or greater than 65%.
• They are widowed or over 65 years of age.
• Large or single-parent families: They will be able to deduct 10%, with a maximum of 600 euros per year, if their taxable base does not exceed 20,000 euros in individual taxation or 30,000 euros in joint taxation.

How to Make the Most of These Deductions?

At I-VEO Synergy, it's not only a real estate agency, but it also offers you the support you need to maximize your tax benefits. If you meet the state or regional requirements, this is your opportunity to save on your next income tax return.

Remember that each autonomous community has its own set of regulations and requirements, so we recommend that you check the specific deductions for your region. Don't miss this opportunity to optimize your income tax return and get the most out of your rental!

I-VEO Synergy is here to help you every step of the way, from finding your ideal home to optimizing your finances. If you have any questions or need advice, do not hesitate to contact us.