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HR 1660 104th Congress House Taxation Capital gains tax Families Home ownership Housing and Community Development Housing finance Income tax Married people Tax exclusion

To amend the Internal Revenue Code of 1986 to eliminate the marriage penalty under the one-time exclusion of gain on the sale of a principal residence by an individual who has attained age 55.

Introduced: May 17, 1995 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 17, 1995
Referred to the House Committee on Ways and Means.
May 17, 1995
Sponsor introductory remarks on measure. (CR E1057)
May 17, 1995
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code, with respect to limitations on the one-time exclusion of gain from the sale of a principal residence by an individual who has attained age 55, to disregard such an election by one married individual (for purposes of determining whether an election may be made by the individual's spouse with respect to property owned by the spouse before the date of marriage) with respect to a sale or exchange: (1) before the date of marriage; or (2) on or after the date of marriage of property owned by such individual before such date. Allows a separate dollar limitation for each election permitted under this provision.

What's happening now May 17, 1995

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1