Temporary Capital Gains Tax Reduction Act of 1989

Summary

Temporary Capital Gains Tax Reduction Act of 1989 - Title I: Temporary Reduction in Capital Gains Tax for Noncorporate Taxpayers - Amends the Internal Revenue Code to provide a temporary reduction in the capital gains tax for noncorporate taxpayers from September 14, 1989, until December 31, 1991. Provides for not taking into account net capital gains under the phaseout of the 15-percent rate and personal exemptions. Provides for recapturing the gain from disposition of certain depreciable property. Title II: Indexing of Certain Assets Acquired After 1991 for Purposes of Determining Gain - Provides for indexing assets held for more than one year beginning after December 31, 1991, solely for purposes of determining gain. Title III: Treatment of Certain Timber Activities Under Passive Loss Rules - Provides for the treatment of passive timber activities under the passive loss rules.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

4 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Engrossed in House (text)

  Engrossed in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 9 November 1989

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.