Deductions from IRPF that disappear in the 2026 Tax Return: Summary of All Changes

# Deductions from IRPF that disappear in the 2026 Tax Return: Summary of All Changes

The 2026 tax campaign — corresponding to the fiscal year 2025 — arrives with significant changes that directly affect what you can deduct. Several deductions from IRPF that disappear in the 2026 Tax Return or that are significantly reduced may result in hundreds of euros of additional tax cost for taxpayers with medium and high incomes, as well as for investors with pension plans, funds, or dividends. Knowing these changes in advance allows you to make decisions before the fiscal year closes.

The regulatory changes affecting the 2026 declaration mainly derive from modifications introduced in the Law 35/2006 of IRPF (BOE-A-2006-20764) and its successive updates, as well as the expiration of transitory regimes that were in effect in previous years. Below, we review each affected deduction, the specific economic impact, and the available legal alternatives.

Important: The Tax Agency publishes the annual campaign novelties on its electronic website. Always consult the updated conditions on sede.agenciatributaria.gob.es before submitting your declaration.

Deductions for housing and energy efficiency that are eliminated or reduced in 2026

Deductions for energy efficiency rehabilitation: Are they still valid?

The deductions for works to improve energy efficiency in residential housing were one of the major tax innovations in recent years, driven by the Next Generation EU funds. These deductions — which could reach up to 20%, 40%, or 60% of the invested amounts depending on the type of work (AEAT, Practical Manual for Tax Return 2025) — were subject to application deadlines linked to the transitory regulation.

According to the regulation in force in 2026, deductions for energy efficiency rehabilitation in its broadest form (60% reduction in the building's energy demand) have expired or are in the process of being phased out as the deadlines set by the Royal Decree-Law regulating them have been exhausted. If you carried out works in 2024 or 2025 and did not fully apply the deduction, check if you have pending deductions from previous years, as the transitory regime may allow you to carry them forward. Consult the BOE and the AEAT to verify the exact deadlines applicable to your case.

Estimated economic impact: A taxpayer who invested 10,000 € in energy efficiency rehabilitation could deduct up to 6,000 € in tax. The disappearance of this deduction means losing that savings entirely if the works were not carried out within the allowed deadline.

Deduction for the purchase of an electric vehicle

The deduction for the purchase of an electric vehicle (up to 15% of the acquisition value with a base limit of 20,000 €, according to AEAT) was introduced on a temporary basis. Its validity was conditioned on the State Budgets and the normative extensions approved. In the 2026 Tax Return, verify whether this deduction is still active for purchases made in 2025, as its continuation depends on the legislation approved for that fiscal year. If you acquired the vehicle in 2024 and already applied the deduction, there is no additional impact.

Deduction for the rental of residential housing (transitory regime)

The transitory regime for the deduction of the rental of residential housing — applicable to contracts prior to 2015 — remains valid for those who meet the requirements, but it has not been extended to new contracts. If you are a tenant with a contract after January 2015, this state deduction does not apply to you, although there may be equivalent autonomous deductions according to your autonomous community.

How the 2026 IRPF changes affect pension plans, funds, and the savings base

This is the angle that most tax guides do not develop: the impact of the 2026 IRPF changes on investment and long-term savings products.

Pension plans: contribution limits and deduction in 2026

The reduction in taxable base for contributions to individual pension plans remains in 2026, but with the reduced limits established in the 2022 reform and that continue to be in force:

• General limit: the lesser of 1,500 € annually or 30% of the net earnings from work and economic activities (Law 35/2006, Article 52, according to the wording in force in 2026).
• Additional limit for employer contributions: up to 8,500 € additional if they come from promoter contributions (employment plans), raising the combined limit to 10,000 €.

How much do you save with a pension plan in the 2026 IRPF? It depends on your marginal rate:

Note: The exact tranches of the general base of the 2026 IRPF may vary according to the state and autonomous legislation in force. Consult the AEAT for the applicable rates in your community.

The reduction of the 8,000 € limit to 1,500 € for individual contributions (introduced in 2022 and maintained in 2026) means that a taxpayer in the 45% bracket who previously contributed 8,000 € and deducted 3,600 € can now only deduct 675 €. The loss of tax savings can exceed 2,900 € annually for high-income profiles.

Investment funds and savings base: no structural changes, but with nuances

The taxation of investment funds in the savings base has not undergone structural changes in 2026: capital gains are taxed at 19%, 21%, 23%, 27%, or 28% depending on the amount (AEAT, according to the tranches in force in 2026). The regime of transfers between funds without immediate taxation remains, which continues to be a relevant tax advantage compared to ETFs.

However, if in previous years you applied deductions that have now disappeared (such as energy-related ones), your net tax liability increases, making it more important than ever to optimize the savings base through compensation of losses and capital gains.

Dividends: the exemption of the first 1,500 € has disappeared

One of the changes that most affects small investors: the exemption of the first 1,500 € in dividends was eliminated in the 2021 tax reform and has not been reinstated in 2026. All dividends are taxed from the first euro in the savings base (AEAT, Law 35/2006, Article 25). For an investor who receives 3,000 € in dividends annually and is taxed at 19%, this means 285 € additional tax compared to the previous regime.

How much money you lose in 2026 according to your income bracket: comparative table before/after

Below is a table with the main affected deductions, the maximum savings you will lose, and the most impacted taxpayer profile:

Source: Own elaboration based on AEAT (Practical Manual for Tax Return 2025), Law 35/2006 of IRPF, and BOE. The amounts are maximum estimates; the real impact depends on the individual situation of each taxpayer.

What fiscal alternatives you have now: concrete steps to optimize your 2026 declaration

Losing deductions does not mean you cannot reduce your tax bill. These are the most effective legal alternatives in 2026:

1. Maximize contributions to employment pension plans and EPSV

If your company offers an employment pension plan, employer contributions allow raising the combined limit to 10,000 € (or more in sectoral plans). The simplified employment pension plans for self-employed also offer additional limits. The EPSV of the Basque Country have a specific fiscal regime with more generous limits for residents in that foral territory.

2. Consider PIAS and life insurance savings

The Individual Systematic Savings Plans (PIAS) do not generate a deduction at the time of contribution, but the accumulated returns are taxed very favorably if withdrawn as a lifetime annuity after 5 years. They are a real alternative for those who have exhausted the limit of the individual pension plan.

3. Offset losses and gains in the savings base

If you have investment funds or shares with latent losses, consider materializing those losses before December 31 to offset them with the gains of the year. Remember the two-month rule for repurchasing homogeneous assets (Law 35/2006, Article 33.5). This strategy requires no additional investment and can significantly reduce your tax liability.

4. Take advantage of ongoing autonomous deductions

Many autonomous communities maintain their own deductions for rental, energy efficiency, birth, care of elderly, or donations that have not disappeared. Consult the catalog of autonomous deductions in the AEAT for your community before submitting the declaration.

5. Review the imputation of capital gains from movable property

If you receive dividends from foreign companies, apply the correct deduction for international double taxation to avoid taxing the same income twice (AEAT, Law 35/2006, Article 80). It is one of the most common errors in declarations with international investments.

Want to calculate the exact impact on your case? Use the tax return simulator available on the AEAT's electronic website or consult with a tax advisor to get a personalized estimate before submitting your declaration.

Sources and reference legislation

• Tax Agency — Practical Manual for Tax Return 2025 (applicable to 2026 declaration): sede.agenciatributaria.gob.es
• BOE — Law 35/2006 of IRPF and its current modifications: boe.es
• CNMV — Taxation of investment products (funds and pension plans): cnmv.es
• Bank of Spain — Customer portal, savings and investment: clientebancario.bde.es
• Tax Agency — Novelties of the 2026 Tax Return campaign: sede.agenciatributaria.gob.es