HR 4786
Race Horse Cost Recovery Act of 2019
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Race Horse Cost Recovery Act of 2019 aims to change how race horses are treated for tax purposes. Currently, the depreciation allowed for race horses is limited, but this bill would extend the period over which owners can deduct depreciation expenses to three years. This change would provide greater tax benefits to horse owners and potentially encourage investment in the racing industry. The bill focuses on amending the Internal Revenue Code to adjust depreciation rules.
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