Summary: H.R.3652 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.3652. Bill summaries are authored by CRS.

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Introduced in House (10/29/1991)

Amends the Internal Revenue Code to provide for the treatment of rental and nonrental real estate activities under the limitations on losses from passive activities.

Provides individuals a deduction for capital gains based on the period the asset is held (up to three years). Excludes collectibles from such assets. Makes such deduction an item of tax preference.