A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses incurred by a taxpayer in making repairs and improvements to his residence.

referredUnited States· United States Congress· EN

Introduced

3 January 1973

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Allows a taxpayer a tax deduction under the Internal Revenue Code for any home improvement expenses paid during the taxable year. Places a $500 limitation on such tax deduction. Allows a two year carryforward when the amount of home improvement expense exceeds $500. Prohibits any such deduction from being treated as a capital expenditure.

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

1 official file

Introduced in House
summary · EN · 3 January 1973
Open at official source

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/93rd-congress/house-bill/502
Open data entity: https://api.congress.gov/v3/bill/93/hr/502