To amend the Internal Revenue Code of 1986 to repeal the limitation on passive activity losses and credits and to provide an accelerated depreciation schedule for real estate.
Real Estate Recovery Act of 1991 - Amends the Internal Revenue Code to repeal the limitation on passive activity losses and credits.
Decreases the applicable recovery period for depreciation of residential rental property and nonresidential real property under the accelerated cost recovery system.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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