[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1070 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1070

 To amend the Internal Revenue Code of 1986 to increase the limitation 
       on the capital loss carryovers of individuals to $10,000.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 13, 2009

  Mr. Jones introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the limitation 
       on the capital loss carryovers of individuals to $10,000.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LIMITATION ON CAPITAL LOSS CARRYOVERS OF INDIVIDUALS 
              INCREASED TO $10,000.

    (a) In General.--Paragraph (1) of section 1211(b) of the Internal 
Revenue Code of 1986 (relating to limitation on capital losses) is 
amended to read as follows:
            ``(1) $10,000 ($5,000 in the case of a married individual 
        filing a separate return), or''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2007.
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