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119th Congress Taxation

H.R. 1340: More Homes on the Market Act

Introduced

  1. Introduced (completed)Feb 13, 2025
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Feb 13, 2025

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

158

Bipartisan support.

Who scored on this bill

24 points earned
  1. 1Jimmy Panetta D-CA SponsorDrew cross-party cosponsors, reached a cosponsor milestone, introduced5 events+24
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Jimmy Panetta

History

  1. Feb 13, 2025Introduced in the House by Jimmy Panetta.
Show the full action history (2 actions)
  1. Feb 13, 2025Introduced in House
  2. Feb 13, 2025Referred to the House Committee on Ways and Means.