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H.R. 7123, The Middle Class Investor Relief Act
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
- This bill, or a similar bill, was reintroduced in the current Congress as H.R. 884, The Middle Class Investor Relief Act.
Comparing original version (created by webmaster) with revision saved on November 6, 2008, 19:30:39 (webmaster):
H.R. 7123 would amend the Internal Revenue Code of 1986 to increase the limitation on the capital loss carryovers of individuals to $20,000.
== Detailed Summary ==
<summary>
(Log inMiddle Class Investor Relief Act - Amends the Internal Revenue Code to editincrease to $20,000 the wiki and belimitation on the first to provide a detailed summaryamount of losses from the bill!)sale or exchange of capital assets that an individual taxpayer may deduct in a taxable year.
</summary>
<!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. -->
== Status of the Legislation ==
<status>
(Log inLatest Major Action: 9/26/2008: Referred to House committee. Status: Referred to edit the wikiHouse Committee on Ways and be the first to update the status of the bill!)Means.
</status>
<!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. -->
== Points in Favor ==
(Log in to edit the wiki and be the first to show why the bill should pass!)
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== Points Against ==
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Visitor Comments
alan weintraub
November 19, 2008, 7:31pm (report abuse)it is about time!! this section of the code (and the 3K limit) has not changed since 1976!! adjusting for inflation, 20K is just about right.