To amend the Internal Revenue Code of 1986 to increase the limitation on capital loss applicable to individuals.
Last action on Dec 13, 2007Referred to the House Committee on Ways and Means.
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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. Provides for an inflation adjustment to such increased amount after 2008.
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