Tax break for the 1% in the stimulus bill

by navagrey

…our rich taxpayer couple — and this applies only for individuals, not corporations — can now deduct an unlimited amount of “excess losses” in real estate against income from other sources

Calls on rich people with real estate.

We are primarily funded by readers. Please subscribe and donate to support us!

EDIT: The actual document. Section 2304 starts on page 196

EDIT 2: NY Times article. Not behind a paywall.

A draft congressional analysis this week found that the change is the second-biggest tax giveaway in the $2 trillion stimulus package.

A separate provision in the stimulus bill, which removes restrictions on losses that people can carry over from previous years, would make the tax break even more lucrative.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.