H.R. 4630IntroducedHouse · nowSenatePresidentLawIn committeeSec. 2 · H.R. 4630
Limitation on wagering losses
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(a) In general Section 165(d)(1) of the Internal Revenue Code of 1986 (as amended by the Act entitled an Act to provide for reconciliation pursuant to title II of H. Con. Res. 14. (119th Congress)) is amended by striking for any taxable year and all that follows through shall be allowed and inserting for any taxable year shall be allowed. (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2025.