Asset Indexing Act of 1979

Summary

Asset Indexing Act of 1979 - Amends the Internal Revenue Code to require a cost-of-living adjustment, based on the Consumer Price Index, to the adjusted basis of certain assets (corporate stock, tangible personal property, and real property held for more than one year which is a capital asset or property used in the trade or business) at the time of sale or exchange, solely for the purpose of determining gain or loss on such assets. Excludes from such treatment (1) creditors' interests; (2) options; (3) net lease property in the case of a lessor; (4) preferred stock with fixed dividends; (5) stock in small business corporations, personal holding companies, and certain foreign corporations.

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1 official file

• Introduced in House

  summary · EN · 13 February 1979

  Open at official source

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