HR 5833
117th Congress
House
Taxation
Equine Tax Fairness Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 3, 2021
Referred to the House Committee on Ways and Means.
Nov 3, 2021
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1