HR 644 · 103th Congress · Taxation

To amend the Internal Revenue Code of 1986 to expand the one-time exclusion of gain from sale of a principal residence based on the amount of increase in equity in the new residence.

Introduced 1993-01-26· Sponsored by Rep. Thomas, William M. [R-CA-21]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1993-01-26)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a taxpayer who has attained age 45 to compute a maximum one-time exclusion from the sale of a principal residence based on the increase in equity in the new residence. (Current provisions govern the one-time exclusion from sale of a principal residence by an individual who has attained age 55.)…

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