HR 7134
110th Congress
House
Taxation
Capital gains tax
Home ownership
Housing and Community Development
Housing finance
Income tax
Tax exclusion
To amend the Internal Revenue Code of 1986 to exclude from gross income the gain from the sale or exchange of certain residences acquired before 2013.
Introduced: September 26, 2008
Introduced by:
Calvert, Ken
Republican
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 26, 2008
Referred to the House Committee on Ways and Means.
Sep 26, 2008
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow an individual taxpayer an exclusion from gross income of the gain from the sale or exchange of up to two residences (other than a principal residence) acquired after December 31, 2007, and before January 1, 2013. Limits the amount of such exclusion to $250,000 ($500,000 for married taxpayers filing a joint return). Allows a $500,000 exclusion amount for a surviving spouse who sells a residence within two years of the death of a spouse.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1