H.R. 4930 · 111th Congress
To amend the Internal Revenue Code of 1986 to provide a partial exclusion from gross income of gain from the…
Full title
To amend the Internal Revenue Code of 1986 to provide a partial exclusion from gross income of gain from the sale of non-principal residences.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HellerSponsorNo cosponsors.
Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of real property which is acquired within one year of the enactment of this Act, is held by the taxpayer and used as a dwelling unit for at least two years, and is located in a high foreclosure rate area, as determined by the Secretary of the Treasury.
What it does: CRS summary · Introduced in House · Mar 24, 2010
Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of real property which is acquired within one year of the enactment of this Act, is held by the taxpayer and used as a dwelling unit for at least two years, and is located in a high foreclosure rate area, as determined by the Secretary of the Treasury. Limits the amount of gain excludable to $50,000 ($100,000 in the case of a joint return).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide a partial exclusion from gross income of gain from the sale of non-principal residences.
Latest action (Mar 24, 2010): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 24, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.