Summary: H.R.4540 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.4540. Bill summaries are authored by CRS.

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Introduced in House (05/05/1988)

Amends the Internal Revenue Code to exclude deductions for business expenses, interest on indebtedness, and taxes from calculations to determine the passive loss limitation in connection with rental real estate activity in which a noncorporate taxpayer actively or materially participates.