Missouri HB2945 amends tax law to provide additional subtractions for capital gains recharacterized as ordinary income by the IRS.
Missouri HB2945 amends tax law to provide additional subtractions for capital gains that are recharacterized as ordinary income by the IRS. The bill modifies the calculation of Missouri adjusted gross income by subtracting certain capital gains from federal adjusted gross income. It includes provisions for deductions related to home energy audits, qualified health insurance premiums, and other specific income sources.
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