Small Investors Tax Relief Act of 1995

Summary

Small Investors Tax Relief Act of 1995 - Amends the Internal Revenue Code to exclude from an individual's gross income dividends from domestic corporations or interest. Limits such exclusion to $1,000 (adjusted for inflation after 1995). Makes such exclusion inapplicable to dividends received from tax-exempt corporations. Requires indexing of certain assets (corporate stock, certain tangible property, and a principal residence) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Reduces the capital gains tax for individuals. Allows as a capital gains deduction an amount equal to the lesser of: (1) the net capital gain; or (2) $10,000 ($20,000 in the case of a joint return). Provides an inflation adjustment for such amounts.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 January 1995

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 January 1995

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• Introduced in Senate

  summary · EN · 9 January 1995

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