Lets certain long-held assets get an inflation adjustment to their tax basis so owners pay tax on real (inflation‑adjusted) gains instead of nominal gains. It covers qualified stocks, specified digital assets, and tangible property, sets how to compute the inflation adjustment using the GDP deflator, requires documentation and a minimum holding period, and includes tailored rules for pass-through entities (partnerships, S corporations) and investment vehicles (RICs and REITs). The change applies to indexed assets acquired after December 31, 2025.