PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Feb 26, 1997
Amends the Internal Revenue Code to provide that if there is a constructive sale of an appreciated financial position: (1) a taxpayer shall recognize gain as if such position were sold for its fair market value on the date of the constructive sale; and (2) for purposes of the treatment of gains and losses for periods after the constructive sale, proper adjustment shall be made in the amount of any gain or loss subsequently realized with respect to such position for any gain taken into account by reason of the above and the holding period of such position shall be determined as if such position were originally acquired on the date of such constructive sale. Sets forth a special rule for investment companies.
People & committees
Rep. Kennelly, Barbara B. [D-CT-1] · D–CT
Legislative record
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Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E333-334)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Feb 7, 2024. Consult Congress.gov for the current record.
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