A bill to amend the Internal Revenue Code of 1954 to take inflation into consideration for purposes of determining an individual's gain or loss in the sale or other disposition of a principal residence.

Summary

Amends the Internal Revenue Code to provide for a cost of living adjustment in the taxpayer's basis for purposes of determining gain or loss in the sale of a principal residence. Specifies that certain improvements to a principal residence shall be treated as a separate principal residence for the purpose of determining the taxpayer's basis in such improvements.

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Documents

1 official file

• Introduced in House

  summary · EN · 25 February 1981

  Open at official source

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