Pipeline · Bill → Law
Step 1
Introduced
Apr 27, 2023
Step 2
Referred
Apr 27, 2023
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill modifies the tax treatment of gains and losses from the sale of depreciable property used in a trade or business to eliminate horses from the definition of livestock (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement for long-term capital gains).
Timeline · 2 actions
Apr 27, 2023
Introduced in House
Apr 27, 2023
Referred to the House Committee on Ways and Means.