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

—

Status

Referred to the House Committee on Ways and Means.

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

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

2 official files

Introduced in House (text)

View file Download file

Introduced in House (text)
Introduced in House · EN
View Download Open at official source
Introduced in House
summary · EN · 24 January 1989
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/101st-congress/house-bill/642
Open data entity: https://api.congress.gov/v3/bill/101/hr/642