A bill to amend the Internal Revenue Code of 1954 to eliminate the holding period for capital gains, to change the rules for deducting capital losses, and for other purposes.

openUnited States· United States Congress· EN

Introduced

14 May 1982

Last action

—

Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Summary

Amends the Internal Revenue Code to redefine capital gains and losses so as to eliminate the one year holding period requirement for capital gains tax treatment. Removes such requirement for property used in a trade or business. Revises the tax treatment of capital losses. Reduces the alternative tax on the capital gains of corporations from 28 to 20 percent. Eliminates net capital gain as an item of tax preference for purposes of the minimum tax.

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Documents

1 official file

Introduced in Senate
summary · EN · 14 May 1982
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/2530
Open data entity: https://api.congress.gov/v3/bill/97/s/2530