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

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).

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Related Legislation

H.R. 1070To amend the Internal Revenue Code of 1986 to increase the limitation on the capital loss carryovers of individuals to $10,000.
2009-02-13Referred to the House Committee on Ways and Means.
Related
H.R. 1857To amend the Internal Revenue Code of 1986 to increase the limitation on the allowance of capital losses of taxpayers other than corporations.
2009-04-01Referred to the House Committee on Ways and Means.
Related
H.R. 1968To amend the Internal Revenue Code of 1986 to increase the limitation on capital losses to $10,500 and to index such limitation to inflation.
2009-04-02Referred to the House Committee on Ways and Means.
Related

Legislative Actions

2009-05-05
Introduced in Senate
2009-05-05
Read twice and referred to the Committee on Finance.

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

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