HR 15393 · 94th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the limitation applicable in the case of the sale of personal residences by the elderly from $20,000 to $60,000.

Introduced 1976-09-01· Sponsored by Rep. Lagomarsino, Robert J. [R-CA-19]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1976-09-01)

Plain Language Summary

[AI summary unavailable — showing source text] Increases from $20,000 to $60,000 the exclusion from gross income, under the Internal Revenue Code, for gain from the sale or exchange of a residence owned by a taxpayer who has attained the age of 65.…

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