To amend the Internal Revenue Code of 1986 to exclude from income capital gain from the sale of a principal residence.

Summary

Amends the Internal Revenue Code to exclude all gain on the sale of a principal residence if owned and used as the principal residence for periods aggregating at least three years during the five-year period prior to sale or exchange. Sets forth special rules relating to: (1) jointly held property; (2) a deceased spouse; (3) a cooperative housing tenant-stockholder; (4) partial principal residence use; (5) determination of marital status; (6) acquisition after involuntary conversion; and (7) periods of out-of-residence health care.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 July 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 July 1997

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 30 July 1997

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.