# modelo 720



## pr2hy (Aug 13, 2015)

Hi

I have 2 questions about the Modelo 720.

1) I become tax resident (6month in Spain) on 1st March 2016. This asset declaration is as at 31st December 2015, when I was still non-tax resident. Do I need to file this form this March or March 2017?

2) Regarding property, the wording is 'purchase price' greater than €50,000. What about property which has not been purchased but has been inherited, does it need to be declared?

Your help is much appreciated in advance.

pr2hy


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## CapnBilly (Jun 7, 2011)

pr2hy said:


> Hi
> 
> I have 2 questions about the Modelo 720.
> 
> ...


1. March 2017

2. The value at the date of inheritance at the exchange rate on the 31st December 2016.


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## pr2hy (Aug 13, 2015)

Many thanks CapnBilly.

Regarding point 2, market value? 

thanks, pr2hy


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## CapnBilly (Jun 7, 2011)

pr2hy said:


> Many thanks CapnBilly.
> 
> Regarding point 2, market value?
> 
> thanks, pr2hy


Yes, at the date of inheritance. Hopefully there would have been a valuation done for probate purposes. It's an important piece of information because it's the valuation that will be used for a capital gains calculation, if you ever decide to sell


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## pr2hy (Aug 13, 2015)

Thanks a lot much appreciated


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