S 2202 · 102th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to provide that farm land adjoining a principal residence qualifies for the one-time exclusion of gain from sale of such residence.

Introduced 1992-02-06· Sponsored by Sen. Kassebaum, Nancy Landon [R-KS]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Subcommittee on Energy and Agricultural Taxation. Hearings held. Hearings printed: S.Hrg. 102-831.(1992-04-29)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that a principal residence includes adjoining farm land for purposes of the one-time exclusion of gain from the sale of a principal residence for individuals who have attained age 55, if such farm land is used by the taxpayer in the active conduct of the trade or business of farming.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Sen. Daschle, Thomas A. [D-SD]SD