To amend the Internal Revenue Code of 1986 to increase the limitation on capital losses an individual may deduct against ordinary income, and to adjust such amount for inflation.

Amends the Internal Revenue Code to increase, from $3,000 to $20,000 (and from $1,500 to $10,000 for a married individual filing a separate return), the limitation on capital losses an individual may deduct against ordinary income. Adjusts amounts for inflation.