A bill to provide that the amendments to section 121 of the Internal Revenue Code of 1954 increasing from $20,000 to $35,000 the amount to which the adjusted sales price of a residence of an individual over age 65 is compared shall apply to taxable years beginning after December 31, 1975.

referredUnited States· United States Congress· EN

Introduced

17 February 1977

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to provide that the Tax Reform Act's increase tax exclusion of gain on sales of residences of the aged shall apply to sales during, as well as after, 1976.

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Documents

1 official file

Introduced in House
summary · EN · 17 February 1977
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/3688
Open data entity: https://api.congress.gov/v3/bill/95/hr/3688