HB10690: Capital Loss Inflation Fairness Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to increase the limitation on capital losses and index the limitation to inflation.
Plain-language summary
This bill would change how much money you can deduct from your taxes when you lose money on investments. Currently, most people can only deduct up to $3,000 in investment losses per year. The bill would increase that limit and adjust it yearly for inflation, meaning the deduction amount would grow over time. The bill is sponsored by eight Republican representatives and has been introduced in Congress. It has not yet been assigned to a or voted on.
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HB10690: Capital Loss Inflation Fairness Act
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Sponsors
Ralph Norman
Primary SponsorCo-sponsors (7)
Sheri Biggs
Andy Harris
Michael Cloud
Thomas Massie
Scott Perry