HR 6856
To amend the Internal Revenue Code of 1986 is amended to allow a deduction for investment advisory expenses of certain funeral and cemetery trusts during suspension of miscellaneous itemized deductions.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill changes the tax code to allow certain funeral and cemetery trusts to deduct their investment advisory expenses. Currently, these deductions are limited when miscellaneous itemized deductions are suspended. This legislation would allow these trusts to continue deducting these expenses during the period from 2020 through 2025 when itemized deductions are suspended. It specifically targets trusts meeting certain criteria outlined in existing tax law.
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Primary sponsor
Cosponsors
A. Drew, IV Ferguson
Grace F. Napolitano
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