I 111th CONGRESS 1st Session H. R. 1070 IN THE HOUSE OF REPRESENTATIVES February 13, 2009 Mr. Jones introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the limitation on the capital loss carryovers of individuals to $10,000.

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.