Bills would tighten capital gains rules
Companion bills renew a past congressional attempt to make it harder for taxpayers to avoid paying capital gains taxes on certain investments.
Companion bills renew a past congressional attempt to make it harder for taxpayers to avoid paying capital gains taxes on certain investments. The bills, S 601 and HR 878, would require brokerage houses and mutual fund companies to report certain information to the government. Investors’ adjusted cost basis for securities and associated sale price would be sent to both taxpayers and the IRS.
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