A bill to amend the Internal Revenue Code of 1954 to allow individuals a deduction for amounts paid or incurred for repairs or improvements of, or additions to, their principal residences.

referredUnited States· United States Congress· EN

Introduced

10 April 1975

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Revises the Internal Revenue Code to allow as a deduction: (1) the home improvement expenses (up to a maximum of $500) paid by a taxpayer; and (2) the residential addition amortization (the aggregate of which may not exceed $5,000).

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 10 April 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/5842
Open data entity: https://api.congress.gov/v3/bill/94/hr/5842