{"id":690,"date":"2025-04-29T16:00:00","date_gmt":"2025-04-29T15:00:00","guid":{"rendered":"https:\/\/lamochiladeclara.com\/?p=690"},"modified":"2025-08-12T07:20:59","modified_gmt":"2025-08-12T06:20:59","slug":"bolsillo-finanzas-declaracion-de-la-renta-guia-practica","status":"publish","type":"post","link":"https:\/\/lamochiladeclara.com\/en\/bolsillo-finanzas-declaracion-de-la-renta-guia-practica\/","title":{"rendered":"Pocket finances. Tax return: practical guide."},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-1024x768.jpg\" alt=\"\" class=\"wp-image-697\" srcset=\"https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-1024x768.jpg 1024w, https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-300x225.jpg 300w, https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-768x576.jpg 768w, https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-1536x1152.jpg 1536w, https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-16x12.jpg 16w, https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30-840x630.jpg 840w, https:\/\/lamochiladeclara.com\/wp-content\/uploads\/2025\/04\/ab385ea1-6b7b-4385-be4b-9c575cd94b30.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Face your tax return fearless, as I pretended to be before going down my first ladder in the mountain. Mallorca, 2019.<\/figcaption><\/figure>\n<\/div>\n\n\n<p>Filling your <strong>tax return<\/strong> is one of those tasks we tend to dread and fear in equal measure. I believe that aversion comes mostly from not understanding it (and, let\u2019s admit it, also the fear of having to pay). As with many other topics, it\u2019s the confusion that truly scares us.<\/p>\n\n\n\n<p>In this post, I explain everything I know in a simple, clear way so you can file your return without fear. Plus, if you\u2019re renting out a property, I\u2019ll tell you exactly what to keep in mind. Keep reading\u2014together we\u2019ll chase away fear with its greatest enemy: information.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>It\u2019s not your salary that makes you rich, it\u2019s your spending habits.<\/em><\/p>\n<cite>Charles A. Jaffe<\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">The Basics<\/h2>\n\n\n\n<p>If you haven\u2019t sold or bought anything major and don\u2019t have significant investments, filing your return will be relatively simple.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Salaried workers:<\/strong> Your employer should have given you your <strong>IRPF withholding certificate<\/strong> (Spanish income tax) at the beginning of the year. There you\u2019ll see:\n<ul class=\"wp-block-list\">\n<li>Total gross income<\/li>\n\n\n\n<li>Total withholdings applied<br>\u2794 If you worked for more than one company, you\u2019ll need a certificate from each.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Other basic aspects you should go through:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Union dues<\/strong> (box 0015)<\/li>\n\n\n\n<li><strong>Professional association fees<\/strong> (box 0016) \u2013 only if membership is mandatory in your case.<\/li>\n\n\n\n<li><strong>Donations to NGOs<\/strong> (box 0707) \u2013 80% deduction for the first \u20ac150, and 35% for the remainder.<\/li>\n\n\n\n<li><strong>Prize money from <a href=\"https:\/\/lamochiladeclara.com\/en\/bolsillo-actitud-el-sindrome-de-la-chica-con-suerte\/\" target=\"_blank\" rel=\"noopener\" title=\"\">contests<\/a><\/strong> or <strong>bank referral campaigns<\/strong> (automatically included if the bank is Spanish).\nNow I\u2019ll explain what to do if the bank is foreign, like <a href=\"https:\/\/traderepublic.com\/es-es\" target=\"_blank\" rel=\"noopener\" title=\"\">Trade Bank<\/a> , which I mentioned in a previous finance post.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>*<strong>Actualizaci\u00f3n junio 2025<\/strong>: Trade Bank ya opera con IBAN espa\u00f1ol, esto implica que a partir de este mes, todos los usuarios antiguos que lo hayan activado y los usuarios nuevos tendr\u00e1n la retenci\u00f3n fiscal autom\u00e1tica, entre otras <a href=\"https:\/\/www.rankia.com\/blog\/cuentas-corrientes\/6863067-trade-republic-iban-espanol\" target=\"_blank\" rel=\"noopener\" title=\"\">ventajas<\/a>.<\/p>\n\n\n\n<p>\ud83d\udc49\ud83c\udffc If you have all this ready, in most cases you\u2019ll be able to file your return without issues.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Advanced Options<\/h2>\n\n\n\n<p>Just like when we explore advanced settings on a computer, here are a few next-level tax items:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Money in foreign banks<\/strong>\n<ul class=\"wp-block-list\">\n<li>If you have <strong>under \u20ac50,000<\/strong>:<br>You don\u2019t need to file Form 720, but <strong>you do need to declare the interest earned<\/strong> (box 0029).<\/li>\n\n\n\n<li>If you have <strong>If you have over \u20ac50,000<\/strong>:<br>You must file <strong>Form 720<\/strong> before March (in addition to reporting the interest on your tax return).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Money in Spanish banks<\/strong>\n<ul class=\"wp-block-list\">\n<li>The tax agency usually already has this interest information pre-filled (Box 0029), along with any withholding tax applied.<\/li>\n\n\n\n<li>Even so, <strong>always double-check<\/strong> that everything is accurate.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>If you have a <strong>Rental Property<\/strong>This one has more layers, so let\u2019s break it down carefully.<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>Wealth consists much more in enjoyment than in possession.<\/em><\/p>\n<cite>Aristotle<\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Feeling lost? Stay with me...<\/h2>\n\n\n\n<p>Here comes the clarity. This was something that really intimidated me my first year too. I thought it was super complicated. I\u2019ll share everything I know here, but it\u2019s also worth noting that <a href=\"https:\/\/sede.agenciatributaria.gob.es\/Sede\/cita-previa-renta.html\" target=\"_blank\" rel=\"noopener\" title=\"\">you can book a phone appointment with the Spanish tax agency,<\/a> and they\u2019re very helpful.<\/p>\n\n\n\n<p>The short summary:\nIf you rent out a property, you need to declare income and expenses.\n\nIncome is the total paid by your tenants throughout the year.\nIn my case, it\u2019s monthly rent \u00d7 12 months.\n\nDeductible expenses are where things get interesting. <strong>truco del almendruco<\/strong>.<\/p>\n\n\n\n<p>These are all the expenses you can deduct, as they are necessary for generating rental income:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Expense<\/th><th>Deductible?<\/th><th>Details<\/th><\/tr><\/thead><tbody><tr><td>Mortgage interest<\/td><td>\u2705 Yes<\/td><td>Only the interest portion, not principal.<\/td><\/tr><tr><td>Property tax (IBI)<\/td><td>\u2705 Yes<\/td><td>Fully deductible.<\/td><\/tr><tr><td>Home and rental insurance<\/td><td>\u2705 Yes<\/td><td>Must be related to the rental property.<\/td><\/tr><tr><td>Life insurance linked to mortgage<\/td><td>\u274c No<\/td><td>Not necessary for the rental activity.<\/td><\/tr><tr><td>Community fees<\/td><td>\u2705 Yes<\/td><td>Monthly homeowners association fees.<\/td><\/tr><tr><td>Maintenance and repairs<\/td><td>\u2705 Yes<\/td><td>Only for upkeep, not improvements (e.g., fixing a water heater).<\/td><\/tr><tr><td>Property improvements<\/td><td>\u274c No<\/td><td>Not deductible (e.g., installing a new automatic awning).<\/td><\/tr><tr><td><strong>Property depreciation<\/strong><\/td><td>\u2705 Yes<\/td><td>3% annually on the building's value (not the land), <a href=\"https:\/\/taxdown.es\/propietario\/que-es-amortizacion-inmueble-como-calcular\/\" target=\"_blank\" rel=\"noopener\" title=\"\">based on purchase price.<\/a>.<\/td><\/tr><tr><td><strong>Furniture depreciation<\/strong><\/td><td>\u2705 Yes<\/td><td>10% annually on the estimated value if the rental is furnished.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Those last two are my little hidden gems\u2014I just discovered them recently and they could save you hundreds of euros on your return.<\/p>\n\n\n\n<p>See you soon and happy reading!<\/p>","protected":false},"excerpt":{"rendered":"<p>La declaraci\u00f3n de la renta se suma a todas esas tareas que nos disgustan y asustan a partes iguales. Creo que el origen de esa aversi\u00f3n es el desconocimiento (y,<span class=\"more-button\"><a href=\"https:\/\/lamochiladeclara.com\/en\/bolsillo-finanzas-declaracion-de-la-renta-guia-practica\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\">Pocket finances. Tax return: practical guide.<\/span><\/a><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[21,51,53,52,50],"class_list":["post-690","post","type-post","status-publish","format-standard","hentry","category-finanzas","tag-ahorro","tag-credito","tag-descuento","tag-deuda","tag-tarjeta"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/posts\/690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/comments?post=690"}],"version-history":[{"count":8,"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/posts\/690\/revisions"}],"predecessor-version":[{"id":758,"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/posts\/690\/revisions\/758"}],"wp:attachment":[{"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/media?parent=690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/categories?post=690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lamochiladeclara.com\/en\/wp-json\/wp\/v2\/tags?post=690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}