S. 978, A bill to amend the Internal Revenue Code of 1986 to increase the limitation on capital losses applicable to individuals

• This item is from the 111th Congress (2009-2010) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 978 would amend the Internal Revenue Code of 1986 to increase the limitation on capital losses applicable to individuals.

Detailed Summary

Amends the Internal Revenue Code to increase the limit on the deductibility of losses from the sale or exchange of capital assets for individual taxpayers to $10,000, adjusted for inflation after 2009 (50% of such amount for married individuals filing a separate tax return).

Status of the Legislation

Latest Major Action: 5/5/2009: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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