S 3039 · 101th Congress · Taxation

Real Estate Tax Basis Calculation Technical Correction Act of 1990

Introduced 1990-09-12· Sponsored by Sen. Pryor, David H. [D-AR]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(1990-09-12)

Plain Language Summary

[AI summary unavailable — showing source text] Real Estate Tax Basis Calculation Technical Correction Act of 1990 - Amends the Internal Revenue Code, with respect to the adjusted basis for determining the gain or loss from the sale or other disposition of property, to provide that the cost of real property shall include the estimated costs of future improvements to such property that the seller is contractually obligated to make at the time of sale.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Sen. Symms, Steven D. [R-ID]ID