S 1755 · 107th Congress · Taxation
A bill to amend the Internal Revenue Code of 1986 to provide a special rule for members of the uniformed services and Foreign Service, and other employees, in determining the exclusion of gain from the sale of a principle residence.
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S12313)(2001-12-03)
Plain Language Summary
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Amends the Internal Revenue Code to suspend, for purposes of determining exclusion of gain from the sale of a principal residence, the five-year determination period for: (1) members of the uniformed services or the Foreign Service serving on qualified extended duty (at least 50 miles from such residence or residing in Government quarters); or (2) an employee serving for more than 90 days on assignment abroad.…
Summarized by Claude AI · Non-partisan · For informational purposes only