A bill to recapture overall foreign losses in termination cases.

Summary

Amends the Internal Revenue Code to provide for the recapture of overall foreign losses in the case of any loss sustained with respect to stock or debt of a corporation: (1) in which the taxpayer owned at least ten percent of the voting stock at the time the loss was sustained or within one year prior to such time; and (2) with respect to which the taxpayer's entire interest is terminated before the close of the third taxable year following the taxable year in which the loss was sustained.

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1 official file

• Introduced in House

  summary · EN · 23 February 1983

  Open at official source

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