H.R. 917 · 119th Congress
Mortgage Debt Tax Forgiveness Act of 2025
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D
BrownleySponsorNo cosponsors.
This bill makes permanent the exclusion of the discharge of qualified principal residence indebtedness from gross income for federal tax purposes.
What it does: CRS summary · Introduced in House · Feb 4, 2025
Mortgage Debt Tax Forgiveness Act of 2025
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 nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mortgage Debt Tax Forgiveness Act of 2025
Latest action (Feb 4, 2025): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 4, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.