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119-hr-1113119th CongressWALLET

Race Horse Cost Recovery Act of 2025

Sponsored By: Representative Barr, Andy [R-KY-6]

Introduced

Summary

Classifies race horses as three-year depreciable property. The Race Horse Cost Recovery Act of 2025 would amend the Internal Revenue Code to treat race horses as 3-year property for depreciation. That change would let owners accelerate tax deductions for costs to acquire or place race horses in service. The provision would apply to race horses placed in service after December 31, 2022.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Faster tax write-offs for race horse owners

If enacted, race horses would be treated as 3-year property for taxes. Owners and racing businesses could write off the cost over three years, instead of longer. This would speed up deductions and lower near-term taxable income. It would apply to horses placed in service after December 31, 2022. The bill does not set an end date.

Sponsors & CoSponsors

Sponsor

Barr, Andy [R-KY-6]

KY • R

Cosponsors

  • Rep. McGarvey, Morgan [D-KY-3]

    KY • D

    Sponsored 2/7/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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