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Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

A bill to repeal the carryover basis provisions added by the Tax Reform Act of 1976.

Actions Overview (1)

Date Actions Overview
03/01/1979Introduced in House

All Actions (2)

Date All Actions
03/01/1979Referred to House Committee on Ways and Means.
Action By: House of Representatives
03/01/1979Introduced in House
Action By: House of Representatives

Cosponsors (25)

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
House Ways and Means03/01/1979 Referred to

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Subjects (2)

Latest Summary (1)

There is one summary for H.R.2582. View summaries

Shown Here:
Introduced in House (03/01/1979)

Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act of 1976 which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.