A bill to amend the Internal Revenue Code of 1954 to allow a limited exclusion in the case of income received by an individual from hobbies and other activities not engaged in for profit.

referredUnited States· United States Congress· EN

Introduced

16 February 1977

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to allow individuals to exclude from gross income the net profit derived from hobbies and other activities not engaged in for profit, where the profits for the taxable year do not exceed $500.

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 16 February 1977
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/3496
Open data entity: https://api.congress.gov/v3/bill/95/hr/3496