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US SB798
Bill
AI Summary
- Allows non-corporate taxpayers to adjust the cost basis of certain assets for inflation when calculating capital gains or losses on assets held more than 3 years
- Eligible "indexed assets" include common stock in C corporations, digital assets recorded on cryptographically secured distributed ledgers, and tangible property that qualifies as capital assets or business property
- Inflation adjustment calculated using the gross domestic product deflator, comparing the quarter before sale to the quarter before acquisition
- Excludes corporations from the benefit; special rules apply to pass-through entities (partnerships, S corporations) where adjustments flow through to individual owners
- Applies to indexed assets acquired after December 31, 2025, and requires taxpayers to maintain written documentation of original purchase price
Legislative Description
Capital Gains Inflation Relief Act of 2025
Taxation
Last Action
Read twice and referred to the Committee on Finance.
2/27/2025
Committee Referrals
Finance2/27/2025
Full Bill Text
No bill text available