A bill to amend section 1034 of the Internal Revenue Code of 1954 to provide an additional 1-year period for first using a new residence which was purchased during the period provided in such section 1034.

referredUnited States· United States Congress· EN

Introduced

23 January 1975

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Changes the requirement that a taxpayer (having purchased a new residence within a year of the sale of his old residence) must use the new residence within 1 year for purposes of nonrecognition of gain under the Internal Revenue Code to allow him up to 2 years to use such new residence.

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Documents

1 official file

Introduced in House
summary · EN · 23 January 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/1925
Open data entity: https://api.congress.gov/v3/bill/94/hr/1925