To amend the Internal Revenue Code of 1986 to provide that passive loss limitation shall not apply to deductions allowable for cash out-of-pocket expenses for taxes, interest, and trade or business expenses in connection with rental real estate activities in which the taxpayer actively or materially participates.

referredUnited States· United States Congress· EN

Introduced

24 January 1989

Last action

24 January 1989 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Pickle, J. J. [D-TX-10], Rep. Archer, Bill [R-TX-7], Rep. Jenkins, Edgar L. [D-GA-9], Rep. Andrews, Michael [D-TX-25], Rep. Matsui, Robert T. [D-CA-5], Rep. Wolpe, Howard E. [D-MI-3], Rep. Ray, Richard B. [D-GA-3], Rep. Bustamante, Albert G. [D-TX-23], Rep. Laughlin, Greg [D-TX-14], Rep. Frost, Martin [D-TX-24], Rep. Tauzin, W. J. (Billy) [R-LA-3], Rep. Wilson, Charles [D-TX-2], Rep. Barton, Joe [R-TX-6], Rep. Coleman, Ronald D. [D-TX-16], Rep. Armey, Richard K. [R-TX-26], Rep. Smith, Robert [R-OR-2], Rep. Bryant, John W. [D-TX-5], Rep. Hayes, James A. [D-LA-7], Rep. Schaefer, Dan [R-CO-6], Rep. Collins, Cardiss [D-IL-7], Rep. Huckaby, Thomas J. (Jerry) [D-LA-5], Rep. Gillmor, Paul E. [R-OH-5], Rep. Sarpalius, Bill [D-TX-13], Rep. Crane, Philip M. [R-IL-8], Rep. Gibbons, Sam [D-FL-11], Rep. Sensenbrenner, F. James, Jr. [R-WI-5], Rep. Hall, Tony P. [D-OH-3], Rep. Hall, Ralph M. [R-TX-4], Rep. McCrery, Jim [R-LA-4], Rep. Brooks, Jack B. [D-TX-9], Rep. Ortiz, Solomon P. [D-TX-27], Rep. Combest, Larry [R-TX-19], Rep. Ravenel, Arthur, Jr. [R-SC-1], Rep. Leath, Marvin [D-TX-11], Rep. Applegate, Douglas [D-OH-18], Rep. Morrison, Bruce A. [D-CT-3], Rep. Smith, Lamar [R-TX-21], Rep. Hefner, W. G. (Bill) [D-NC-8], Rep. Schuette, Bill [R-MI-10], Rep. Quillen, James H. (Jimmy) [R-TN-1], Rep. Payne, Lewis F., Jr. [D-VA-5], Rep. Fawell, Harris W. [R-IL-13], Rep. Hastert, J. Dennis [R-IL-14], Rep. Chapman, Jim [D-TX-1], Rep. Sundquist, Don [R-TN-7], Rep. Glickman, Dan [D-KS-4]

Subjects

Taxation

Source updated

7 February 2024

Taxation

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Summary

Amends the Internal Revenue Code to exclude deductions for business expenses, interest on indebtedness, and taxes from calculations to determine the passive loss limitation in connection with rental real estate activity in which a noncorporate taxpayer actively or materially participates.

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

Timeline

24 January 1989
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
24 January 1989
Introduced
Introduced in House
Source: IntroReferral
24 January 1989
Introduced
Introduced in House
Source: IntroReferral

Votes

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Versions

Introduced in House · — · Download file

Documents

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Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN
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Introduced in House
summary · EN · 24 January 1989
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

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Sources

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Official source: https://www.congress.gov/bill/101st-congress/house-bill/642
Open data entity: https://api.congress.gov/v3/bill/101/hr/642
us · 101-hr-642 · source updated 7 February 2024