To amend the Internal Revenue Code of 1986 to provide that income averaging for farmers shall be applied by taking into account negative taxable income during the base period years.

Summary

Amends the Internal Revenue Code with respect to income averaging for farmers to take into account as negative taxable income, in the case of any prior taxable year, any excess of : (1) the deductions allowed for such taxable year reduced by the net operating loss for such year; over (2) the gross income for such year.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 May 2000

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• Introduced in House (PDF)

  Introduced in House · EN · 4 May 2000

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• Introduced in House

  summary · EN · 4 May 2000

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