H.R. 5833 · 117th Congress
Equine Tax Fairness Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrSponsorNo cosponsors.
This bill modifies the tax treatment of gains and losses from the sale of depreciable property used in a trade or business to eliminate horses from the definition of livestock (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding…
What it does: CRS summary · Introduced in House · Nov 3, 2021
Equine Tax Fairness Act
This bill modifies the tax treatment of gains and losses from the sale of depreciable property used in a trade or business to eliminate horses from the definition of livestock (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement for long-term capital gains).
The bill also makes permanent the 3-year recovery period for the depreciation of race horses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Equine Tax Fairness Act
Latest action (Nov 3, 2021): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 3, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.