A bill to amend section 121 of the Internal Revenue Code of 1954 to provide that the exclusion from gross income of gain on the sale of a principal residence held for more than 5 years provided by that section will be available without regard to the age of the taxpayer.

Summary

Provides that the exclusion from gross income under the Internal Revenue Code presently allowable to those over age 65 with respect to gain on the sale of a principal residence held for more than 5 years shall be available without regard to the age of the taxpayer.

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1 official file

• Introduced in House

  summary · EN · 26 February 1975

  Open at official source

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