3.0.0 2688 2023-01-11T13:39:41Z 2023-01-11T13:39:41Z Senate S 2018-04-17 115 ssfi00 Finance Committee Senate Standing Referred to 2018-04-17T19:01:00Z Retirement Inflation Protection Act of 2017 115 2017 HR 2017-04-06 Referred to the House Committee on Ways and Means. Related bill CRS Capital Gains Inflation Relief Act 115 6444 HR 2018-07-19 Referred to the House Committee on Ways and Means. Related bill CRS 2018-04-17 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2018-04-17 Introduced in Senate IntroReferral 10000 9 Library of Congress C001098 Sen. Cruz, Ted [R-TX] Ted Cruz R TX N I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2018-04-17 True T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. 2018-04-23 False Taxation Bank accounts, deposits, capital Capital gains tax Economic performance and conditions Financial services and investments Inflation and prices Property tax Real estate business Tax administration and collection, taxpayers Taxation of foreign income Taxation 00 2018-04-17 Introduced in Senate 2018-07-05T19:54:09Z Capital Gains Inflation Relief Act of 2018

This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of a taxpayer (other than a corporation) who has held the asset for more than three years.

The bill sets forth rules for applying the inflation adjustment to:

  • short sales;
  • regulated investment companies;
  • real estate investment trusts;
  • other pass-through entities, including partnerships, S corporations, and common trust funds;
  • dispositions between related persons; and
  • improvements to property or contributions of capital.

The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.

]]> Capital Gains Inflation Relief Act of 2018 Display Title Capital Gains Inflation Relief Act of 2018 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss. Introduced in Senate IS Short Titles as Introduced Capital Gains Inflation Relief Act of 2018 Introduced in Senate 2018-04-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2688is/xml/BILLS-115s2688is.xml 2018-04-17 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.