A bill to amend the Internal Revenue Code of 1954 with respect to the deduction of certain expenses in connection with the business use of homes and the rental of residences to family members, and for other purposes.

Summary

Amends the Internal Revenue Code to extend the business expense deduction to any trade or business conducted in the home of the taxpayer. Eliminates the restrictions on the deductibility of expenses relating to the rental of a residence to a family member. Permits a taxpayer to make repairs on rental properties on a full-time basis without being treated as using such properties for personal purposes.

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

Timeline

1. 5 January 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 5 January 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 23 February 1981

   Committee

   Subcommittee on Taxation and Debt Management took the following actions.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 5 January 1981

  Open at official source

Sponsors

• Sen. Armstrong, William L. [R-CO] · R · Sponsor
• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Mathias, Charles McC., Jr. [R-MD] · R · Sponsor
• Sen. Goldwater, Barry [R-AZ] · R · Sponsor
• Sen. Exon, J. James [D-NE] · D · Sponsor
• Sen. Baucus, Max [D-MT] · D · Cosponsor
• Sen. Boschwitz, Rudy [R-MN] · R · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• Sen. Simpson, Alan K. [R-WY] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to repeal the family rental home business tax; to amend the Internal Revenue Code of 1954 with respect to the deduction of certain expenses in connection with the business use of homes and the rental of residences to family members, and for other purposes.