House Approves AMT Relief Bill With Carried Interest Tax Provision

摘要

The House passed an alternative minimum tax relief bill (H.R. 6275) on June 25, 233-189, that would offset the cost of relief in part by taxing compensation for in- vestment management services as ordinary income instead of capital gains. This so-called carried interest provision would apply to general partners in real estate partnerships. It would generally apply to taxable years ending after June 18. However, the White House has threatened to veto the bill because of the tax increases, including the carried interest provision, and the House vote was far short of the two-thirds majority needed for an override.