Passive Losses

[Lucho]

would someone help me, please.

I would like to know under what administration congress set limit on passive losses.

I see that in 1981 there was a tax cut, in 1996 there also was another Tax Reform Act. I assume that the limit on passive losses goes way back.

I would appeciate any help.

Thank

Lucho

[Joel]

It was done in 1986 for tax years starting 1987 I believe.

[Lucho]

It was done in 1986 for tax years starting 1987 I believe.

Thank you, Joel

Lucho