Excerpt from Summary of Revenue Provistions of H. R. 4961 (the Tax Equity and Fiscal Responsibility Act of 1982) As Passed by the Senate on July 22, 1982
The bill reduces the holding period distinguishing long-term from short-term capital gains and losses from One year to six months, effective for sales or exchanges after June 30, l982.
The bill generally provides for an inflation adjustment (or indexing) to the basis of certain assets for purposes of determining gain or loss on the sale or other disposition of the assets. The inflation adjustment-is based on the level of the gross national product deflator in the quarter the asset is purchased compared with the index for the quarter of sale. Assets eligible for the indexing adjustment are corporate stock and real property where these assets are capital assets or assets used in a trade or business and held for more than one year. The inflation adjustment applies only to inflation occurring after December 31, 1984.
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Paperback. Condition: New. Print on Demand. This book contains a comprehensive overview of the Economic Recovery Tax Act of 1981. It presents an in-depth look at the act's amendments to tax laws, analyzing various provisions affecting business, individuals, and investments. The author examines the historical context, motivations, and potential implications of these changes, addressing topics such as depreciation, capital gains, corporate taxes, and tax compliance. This detailed analysis sheds light on the act's significant impact on the U.S. tax system and provides valuable insights for understanding its lasting effects on economic policy and financial planning. Forgotten Books publishes hundreds of thousands of rare and classic books. This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. The digital edition of all books may be viewed on our website before purchase. print-on-demand item. Seller Inventory # 9781332447091_0
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