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HR 10410 94th Congress House

Farm Tax Equity Act

Official title: A bill to amend the Internal Revenue Code of 1954 to limit the extent to which farm losses can be used to offset nonfarm income.

Introduced: October 28, 1975 See on congress.gov
Taxation AccountingAgriculture and FoodAuditingFarm income
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FarmsIncome taxTax deductions
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This bill died when the 94th Congress ended
It never became law before the 94th Congress (1975–1976) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 28, 1975
Referred to House Committee on Ways and Means.
Oct 28, 1975
Introduced in House
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 Latest action October 28, 1975

Referred to House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Farm Tax Equity Act - Limits, under the Internal Revenue Code, deductions with respect to a taxpayer engaged in the business of farming to: (1) the gross income of the business for the taxable year; and (2) in the case of an individual or a bona fide family farm corporation, the higher of $10,000 or the amount of special deductions allowed by this Act, or for any other taxpayer, the amount of special deductions.

Prohibits the application of such deductions when the taxpayer uses specified accounting methods. Defines terms used in this Act.

 Related & companion bills 1
  • HR 7907 Identical bill Farm Tax Equity Act
 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 10410: Farm Tax Equity Act. 94th Congress. Open America. https://openamerica.io/bill/94-HR-10410/
MLA
"H.R. 10410: Farm Tax Equity Act." 94th Congress, 2026, Open America, https://openamerica.io/bill/94-HR-10410/.
Bluebook (legal)
H.R. 10410, 94th Cong. (2026), https://openamerica.io/bill/94-HR-10410/.
Markdown link
[H.R. 10410: Farm Tax Equity Act](https://openamerica.io/bill/94-HR-10410/)
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