Senior Citizen Capital Gain Rate Reduction Act of 1992

Senior Citizen Capital Gain Rate Reduction Act of 1992 - Amends the Internal Revenue Code to reduce the individual capital gains rate for the sale of retirement assets by a taxpayer who has attained the age of 60 or older.

Reduces the alternative minimum tax rate on capital gains for such taxpayers.

Provides for indexing the such retirement assets held for more than five years before their disposition for purposes of determining gain or loss. Declares that the deduction for depreciation, depletion, and amortization shall be determined without regard to the indexed basis. Provides for determining the indexed amount based upon the gross national product deflator.

Provides for indexing the limitation on capital losses of such taxpayers.

Makes this Act generally applicable to sales or exchanges occurring after March 7, 1991.