Middle Class Savings and Capital Gains Act of 1995

Summary

Middle Class Savings and Capital Gains Act of 1995 - Amends the Internal Revenue Code to allow individuals, in computing their adjusted gross income, a deduction of 100 percent of their net capital gain. Sets a $100,000 lifetime limit on the deduction and adjusts for inflation the balance of this amount remaining after the first year the deduction is taken. Excludes from determinations of the deduction the gain on the sale or exchange of a principal residence by a taxpayer under age 55.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 March 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 24 March 1995

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• Introduced in House

  summary · EN · 24 March 1995

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