Code · BILL · 116th Congress · H.R. 6800 (Placed on Calendar Senate) — Making emergency supplemental appropriations for the fiscal year ending September 30, 2020, and for other purposes. · Sec. 20301

Sec. 20301. Limitation on excess business losses of non-corporate taxpayers restored and made permanent

64 words·~1 min read·/bill/116/hr/6800/pcs/section-20301

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Section 461(l)(1) of the Internal Revenue Code of 1986 is amended to read as follows: In the case of a taxpayer other than a corporation, any excess business loss of the taxpayer shall not be allowed. . Section 461 of such Code is amended by striking subsection (j). The amendments made by this section shall apply to taxable years beginning after December 31, 2017.