A bill to amend the Internal Revenue Code of 1986 to allow the one-time exclusion or gain from sale of a principal resident to be taken before age 55 if the taxpayer or family member suffers a catastrophic illness.

Summary

Amends the Internal Revenue Code to allow the one-time exclusion on gain from the sale of a principal residence to be taken before age 55 if the taxpayer or a family member: (1) is physically or mentally incapable of self-care; and (2) has had such condition, or will have such condition, for at least six months.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 January 1993

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 January 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 January 1993

  Open at official source

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