HR 3783 · 94th Congress · Taxation
A bill to amend section 121 of the Internal Revenue Code of 1954 (relating to gain from sale or exchange of residence of individual who has attained age 65) to lower to 60 the age at which the benefits of that section may be elected and to increase the amount of gain which may be excluded under such section.
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1975-02-26)
Plain Language Summary
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Provides that the exclusion from gross income under the Internal Revenue Code presently allowable to those over age 65 with respect to gain on the sale of a principal residence held for more than 5 years shall be available to taxpayers at age 60 (now age 65).…
Summarized by Claude AI · Non-partisan · For informational purposes only