A bill to amend the Internal Revenue Code of 1954 with respect to the tax treatment of capital gains and losses.

Summary

Redefines, for purposes of the Internal Revenue Code, the terms "long-term capital gain" and "long-term capital loss" to apply to capital assets held for more than 90 days (formerly 6 months). Sets forth the calculatable amount of carryover allowed by a taxpayer (other than a corporation) on a new capital loss and details the rules governing carrybacks for such taxpayers.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 25 April 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 25 April 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 April 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 25 April 1974

  Open at official source

Sponsors

• Rep. Pettis, Jerry L. [R-CA-37] · R · Sponsor
• Rep. Burleson, Omar [D-TX-17] · D · Cosponsor
• · hswm00 · Standing

Related records

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