Tax Relief for Guard and Reserve Training Act

Bill: 115-s-697
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2017-03-22
Policy area: Taxation
Subjects: Income tax deductions

National Guard and reserves

Transportation costs
Latest action: action_date: 2017-03-22
text: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks: CR S1933-1934; text of measure as introduced: CR S1934)

Summaries:
action_date: 2017-03-22
action_desc: Introduced in Senate
text: <p><b>Tax Relief for Guard and Reserve Training Act </b></p> <p>This bill amends the Internal Revenue Code, with respect to the tax deductions for expenses in connection with the performance of services as a member of a reserve component of the Armed Forces, to: (1) reduce from 100 miles to 50 miles (without regard to whether such period includes an overnight stay) the distance from home requirement for the above-the-line deduction; and (2) exempt from the 2% floor on miscellaneous itemized deductions the deductions allowed that consist of expenses paid or incurred in connection with the performance of such services for any period (without regard to whether such period includes an overnight stay) during which the individual is more than 50 miles away from home in connection with the services. </p> <p>(Above-the-line deductions are subtracted from gross income to arrive at adjusted gross income. Under current law, miscellaneous itemized deductions are only allowed if the aggregate of the deductions exceeds 2% of the taxpayer's adjusted gross income.)</p>

tv_txt: II 115th CONGRESS 1st Session S. 697 IN THE SENATE OF THE UNITED STATES March 22, 2017 Mr. Daines introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to lower the mileage threshold for deduction in determining adjusted gross income of certain expenses of members of reserve components of the Armed Forces, and for other purposes.

1. Short title This Act may be cited as the Tax Relief for Guard and Reserve Training Act . 2. Reduction of mileage threshold for deduction in determining adjusted gross income (a) In general Subparagraph (E) of section 62(a)(2) of the Internal Revenue Code of 1986 is amended— (1) by striking 100 miles and inserting 50 miles , and (2) by striking for any period and inserting for any period (without regard to whether such period includes an overnight stay) . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016. 3. Exemption from 2 percent floor on miscellaneous itemized deductions (a) In general Subsection (b) of section 67 of the Internal Revenue Code of 1986 is amended— (1) by striking and at the end of paragraph (11), (2) by striking the period at the end of paragraph (12) and inserting , and , and (3) by adding at the end the following new paragraph: (13) the deductions allowed by section 162 which consist of expenses paid or incurred by the taxpayer in connection with the performance of services by such taxpayer as a member of a reserve component of the Armed Forces of the United States for any period (without regard to whether such period includes an overnight stay) during which such individual is more than 50 miles away from home in connection with such services. . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016.