What is the current status of S 798?

S 798 is currently: Introduced.

S 798 was sponsored by Ted Cruz (R), Sen.

Capital Gains Inflation Relief Bill

IntroducedN/A

Introduced1 year ago

Intro

Senate

House

Pres

Read twice and referred to the Committee on Finance.

Taxation

Why This Matters

This bill helps individuals pay less tax on profits from selling assets by adjusting the purchase price for inflation. This change aims to make it fairer for people who have held their investments for a long time.

If you sell an asset you’ve owned for a long time, you could pay less in taxes on your profit.

Who this affects

Individuals selling stocks · Individuals selling digital assets · Individuals selling property

What changes is this bill making?

1This bill changes how people calculate profit from selling certain assets.
2It allows individuals to adjust the original purchase price of assets for inflation.
3The bill applies to assets held for more than three years.
4It includes stocks, digital assets, and tangible property.
5Taxpayers must keep written proof of the original purchase price.

Read full document

Last changed 4 months ago · checked hourly

Capital Gains Inflation Relief Bill

IntroducedN/A

Introduced1 year ago

Intro

Senate

House

Pres

Read twice and referred to the Committee on Finance.

Taxation

Why This Matters

If you sell an asset you’ve owned for a long time, you could pay less in taxes on your profit.

Who this affects

Individuals selling stocks · Individuals selling digital assets · Individuals selling property

What changes is this bill making?

1This bill changes how people calculate profit from selling certain assets.
2It allows individuals to adjust the original purchase price of assets for inflation.
3The bill applies to assets held for more than three years.
4It includes stocks, digital assets, and tangible property.
5Taxpayers must keep written proof of the original purchase price.

Read full document

Last changed 4 months ago · checked hourly