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Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Capital Gains Inflation Relief Act of 2018

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss.


Actions Overview (1)

Date
04/17/2018Introduced in Senate

All Actions (1)

Date
04/17/2018Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (2)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Inhofe, James M. [R-OK]* 04/17/2018
Sen. Toomey, Pat [R-PA] 04/23/2018

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance04/17/2018 Referred to

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Subjects (1)


Latest Summary (1)

There is one summary for S.2688. View summaries

Shown Here:
Introduced in Senate (04/17/2018)

Capital Gains Inflation Relief Act of 2018

This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of a taxpayer (other than a corporation) who has held the asset for more than three years.

The bill sets forth rules for applying the inflation adjustment to:

  • short sales;
  • regulated investment companies;
  • real estate investment trusts;
  • other pass-through entities, including partnerships, S corporations, and common trust funds;
  • dispositions between related persons; and
  • improvements to property or contributions of capital.

The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.