What is the official ID of this bill?

The official print number for this legislation is HR 2286.

When did the legislative process begin?

The process officially started on 2021-03-29.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/hr2286/BILLS-117hr2286ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

Who is the primary sponsor?

The primary sponsor is Rep. Pascrell, Bill, Jr. [D-NJ-9].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Analysis and Potential Impact of HR 2286

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Capital Gains Tax Triggered by Gifts and Inherited Appreciated Assets

Q: What are the main provisions?

Key points include: Capital gains tax is now due immediately when highly appreciated assets are transferred as gifts or inherited, effective January 1, 2022. An exclusion shields the first $1 million of capital gains realized upon a person's death from this new tax. Transfers between U.S. citizen spouses remain exempt from this immediate tax realization. Executors can elect to pay the resulting tax bill over a period of up to 7 years for certain non-traded assets, easing liquidity concerns.

This law treats the transfer of appreciated property (like stocks or real estate) by gift or at death as a sale at fair market value, immediately triggering capital gains tax liability. While eliminating the previous tax benefit (step-up in basis), it includes a significant exclusion of up to $1 million in realized capital gains upon death. Citizens transferring high-value assets must prepare for immediate tax obligations upon gifting or inheritance.

Key points

Capital gains tax is now due immediately when highly appreciated assets are transferred as gifts or inherited, effective January 1, 2022.

An exclusion shields the first $1 million of capital gains realized upon a person's death from this new tax.

Transfers between U.S. citizen spouses remain exempt from this immediate tax realization.

Executors can elect to pay the resulting tax bill over a period of up to 7 years for certain non-traded assets, easing liquidity concerns.

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Additional Information

To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes.

Print number: HR 2286

Sponsor: Rep. Pascrell, Bill, Jr. [D-NJ-9]

Process start date: 2021-03-29

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-flash-latest

Source data: api.congress.gov

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Capital Gains Tax Triggered by Gifts and Inherited Appreciated Assets

Key Questions about Capital Gains Tax Triggered by Gifts and Inherited Appreciated Assets