HR 2049
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.
IN THE HOUSE OF REPRESENTATIVES
May 26, 2011
Mr. SENSENBRENNER introduced the following bill; which was referred to the
Committee on Ways and Means
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.
END
