To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.

USA117^th CongressHR-2450| House

| Updated: 4/12/2021

This bill exempts taxpayers whose modified adjusted gross income does not exceed $400,000 in a taxable year from the 80% taxable income limit on net operating loss carryovers.

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Taxation

Income tax ratesWages and earnings

To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.

USA117^th CongressHR-2450| House

| Updated: 4/12/2021

This bill exempts taxpayers whose modified adjusted gross income does not exceed $400,000 in a taxable year from the 80% taxable income limit on net operating loss carryovers.

View Full Text

Marie Newman

Democratic Representative

Illinois

Ways and Means Committee

Taxation

Introduced
In Committee
On Floor
Passed Chamber
Enacted

Income tax ratesWages and earnings

To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.

Suggested Questions

Marie Newman

Ways and Means Committee

Taxation

To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.

Suggested Questions

Marie Newman

Ways and Means Committee

Taxation