S 4075
109th Congress
Senate
Taxation
Capital gains tax
Families
Home ownership
Housing and Community Development
Housing finance
Income tax
Survivors' benefits
Tax exclusion
Widowers
Widows
Women
A bill to amend the Internal Revenue Code of 1986 to apply the joint return limitation for capital gains exclusion to certain post-marriage sales of principal residences by surviving spouses.
Introduced: December 5, 2006
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 5, 2006
Read twice and referred to the Committee on Finance.
Dec 5, 2006
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to allow a surviving spouse to exclude from gross income up to $500,000 of the gain from the sale or exchange of a principal residence owned jointly with a deceased spouse if the sale or exchange occurs within two years of the death of the spouse and other ownership and use requirements have been met.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1