119th Congress Taxation
H.R. 917: Mortgage Debt Tax Forgiveness Act of 2025
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill makes permanent the exclusion of the discharge of qualified principal residence indebtedness from gross income for federal tax purposes.
Under current law, a taxpayer may generally exclude from gross income up to $750,000 (or $375,000 if married but filing a separate federal tax return) from the discharge of indebtedness that is (1) incurred to purchase, build, or substantially improve a principal residence (or refinance such indebtedness); and (2) secured by the principal residence. The discharge must currently occur before January 1, 2026, and some limitations apply.
Written by the Congressional Research Service, Library of Congress.
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Amendments
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History
- Introduced in the House by Julia Brownley.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.