Farmland Capital Gains Equity Act of 2003

Summary

Farmland Capital Gains Equity Act of 2003 - Amends the Internal Revenue Code to provide an exclusion from gross income of gain from the sale of qualified farm property similar to the exclusion of gain on the sale of a principal residence. Excludes from gross income up to $500,000 ($250,000 in the case of a married individual filing a separate return), reduced by the aggregate amount of gain excluded for all preceding taxable years.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 January 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 8 January 2003

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• Introduced in House

  summary · EN · 8 January 2003

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