HR 1340
119th Congress
House
Taxation
More Homes on the Market Act
Introduced: May 19, 2026
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2025
Referred to the House Committee on Ways and Means.
Feb 13, 2025
Introduced in House
Plain-English summary
More Homes on the Market Act
This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes).
Under the bill, an individual may exclude from gross income gain from the sale of a principal residence of up to $500,000 (currently $250,000), and taxpayers who are married and file a joint federal income tax return may exclude up to $1 million (currently $500.000). The bill also requires these amounts to be adjusted annually for inflation.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1