US HB6444 | 2017-2018 | 115th Congress

Status

Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on July 19 2018 - 25% progression
Action: 2018-07-19 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Capital Gains Inflation Relief Act This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of a taxpayer (other than a corporation) who has held the asset for more than three years. The bill sets forth rules for applying the inflation adjustment to: short sales; regulated investment companies; real estate investment trusts; other pass-through entities, including partnerships, S corporations, and common trust funds; dispositions between related persons; and improvements to property or contributions of capital. The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.

Tracking Information

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Title

Capital Gains Inflation Relief Act

Sponsors


History

DateChamberAction
2018-07-19HouseReferred to the House Committee on Ways and Means.
2018-07-19HouseIntroduced in House

Same As/Similar To

SB2688 (Related) 2018-04-17 - Read twice and referred to the Committee on Finance.
HB2017 (Related) 2017-04-06 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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