To amend the Internal Revenue Code of 1986 to allow a married couple conducting an unincorporated trade or business to elect out of partnership status.
About This Bill
Committee
Latest Action · April 2, 2003
Referred to the House Committee on Ways and Means.
Amends the Internal Revenue Code to allow a married couple conducting an unincorporated trade or business to elect out of partnership status.Allocates all related items of income, gain, loss, and credit equally between the spouses, unless they provide for a labor-based allocation.Includes each spouse's share of income or loss in net earnings from self-employment.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.