H.R.396

To amend the Internal Revenue Code of 1986 to provide that certain net capital gain of individuals who have attained age 65 shall not be subject to tax.

1/9/2009--Introduced.

Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009 - Amends the Internal Revenue Code to allow a tax deduction for the qualified net capital gain of taxpayers age 65 and older. Defines "qualified net capital gain" as the lesser of: (1) net capital gain; or (2) net capital gain only from assets held for at least 15 years.

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