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HR 755 111th Congress House Taxation Capital gains tax Housing finance and home ownership Income 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: January 28, 2009 Introduced by: Calvert, Ken Republican · California See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 28, 2009
Referred to the House Committee on Ways and Means.
Jan 28, 2009
Introduced in House
 Plain-English summary Congressional Research Service

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, 2008, and before January 1, 2012. 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 January 28, 2009

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1