To amend the Internal Revenue Code of 1986 to increase the limitation on capital losses an individual may deduct against ordinary income, and to adjust such amount for inflation.

Fact Sheet API

Bill Number

HR 5212

Introduced

Jul 25, 2002

Latest Action

Sponsor introductory remarks on measure. (CR E2144)

Sponsor

Cosponsors

Topics

Capital Cost of living adjustments Economics and Public Finance Finance and Financial Sector Income tax Indexing (Economic policy) Losses Tax deductions Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to increase, from $3,000 to $20,000 (and from $1,500 to $10,000 for a married individual filing a separate return), the limitation on capital losses an individual may deduct against ordinary income. Adjusts amounts for inflation.

Actions

Nov 22, 2002

Sponsor introductory remarks on measure. (CR E2144)
Jul 25, 2002

Referred to the House Committee on Ways and Means.
Jul 25, 2002

Introduced in House

Amendments

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