[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2049 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2049

 To amend the Internal Revenue Code of 1986 to increase the limitation 
on capital losses to $10,500 and to index such limitation to inflation.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 26, 2011

Mr. Sensenbrenner 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 capital losses to $10,500 and to index such limitation to inflation.

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

SECTION 1. LIMITATION ON CAPITAL LOSSES OF INDIVIDUALS INCREASED TO 
              $10,500.

    (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)(A) in the case of married individual filing a 
        separate return, 50 percent of the amount in effect under 
        subparagraph (B) for the taxable year, or
            ``(B) $10,500 in any other case, or''.
    (b) Cost-of-Living Increase.--Section 1211 of such Code is amended 
by adding at the end the following new subsection:
    ``(c) Cost-of-Living Increase.--
            ``(1) In general.--In the case of any taxable year 
        beginning in a calendar year after calendar year 2011, the 
        $10,500 amount under subsection (b)(1)(B) shall be increased by 
        an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins, determined by substituting 
                `calendar year 2010' for `calendar year 1992' in 
                subparagraph (B) thereof.
            ``(2) Rounding.--If any amount after adjustment under 
        paragraph (1) is not a multiple of $100, such amount shall be 
        rounded to the next higher multiple of $100.''.
    (c) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2010.
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