A bill to amend the Internal Revenue Code of 1986 to increase the limitation on capital losses applicable to individuals.
Latest action · May 5, 2009 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 5, 2009
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to increase the limit on the deductibility of losses from the sale or exchange of capital assets for individual taxpayers to $10,000, adjusted for inflation after 2009 (50% of such amount for married individuals filing a separate tax return).
Cosponsors 1
Members who signed on, in the order they did. All signed on May 5, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-UT | Orrin G. Hatch | Original | May 5, 2009 |
Actions 2
Everything that happened, newest first.
- May 5, 2009Introduced in Senate
- May 5, 2009Read twice and referred to the Committee on Finance.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1070 | To amend the Internal Revenue Code of 1986 to increase the limitation on the capital loss carryovers of individuals to $10,000. | Related bill | Feb 13, 2009 |
| HR 1857 | To amend the Internal Revenue Code of 1986 to increase the limitation on the allowance of capital losses of taxpayers other than corporations. | Related bill | Apr 1, 2009 |
| HR 1968 | To amend the Internal Revenue Code of 1986 to increase the limitation on capital losses to $10,500 and to index such limitation to inflation. | Related bill | Apr 2, 2009 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 5, 2009Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.