A bill to recapture overall foreign losses in termination cases.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide for the recapture of overall foreign losses in the case of any loss sustained with respect to stock or debt of a corporation: (1) in which the taxpayer owned at least ten percent of the voting stock at the time the loss was sustained or within one year prior to such time; and (2) with respect to which the taxpayer's entire interest is terminated before the close of the third taxable year following the taxable year in which the loss was sustained.…