Capital Gains Inflation Relief Act

Summary

Capital Gains Inflation Relief Act This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of a taxpayer (other than a corporation) who has held the asset for more than three years. The bill sets forth rules for applying the inflation adjustment to: short sales; regulated investment companies; real estate investment trusts; other pass-through entities, including partnerships, S corporations, and common trust funds; dispositions between related persons; and improvements to property or contributions of capital. The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.

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Timeline

1. 19 July 2018

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 19 July 2018

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 July 2018

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 July 2018 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 July 2018

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 July 2018

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 July 2018

  Open at official source

Sponsors

• Devin Nunes · R · Sponsor
• Adrian Smith · R · Cosponsor
• Matt Gaetz · R · Cosponsor
• Mark Meadows · R · Cosponsor
• David Schweikert · R · Cosponsor
• Ralph Norman · R · Cosponsor
• · hswm00 · Standing

Related records

• related to → Retirement Inflation Protection Act of 2017
• related to → Capital Gains Inflation Relief Act of 2018