H.R. 1340 · 119th Congress — More Homes on the Market Act
More Homes on the Market Act This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes). Under the bill, an individual may exclude from gross…
- Congress
- 119
- Bill
- HR 1340
- Status
- Introduced
- Introduced
- 2025-02-13
- Latest action date
- 2025-02-13
Record overview
More Homes on the Market Act This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes). Under the bill, an individual may exclude from gross income gain from the sale of a principal residence of up to $500,000 (currently $250,000), and taxpayers who are married and file a joint federal income tax return may exclude up to $1 million (currently $500. 000). The bill also requires these amounts to be adjusted annually for inflation.
The recorded stage is committee referral: the named committee or committees consider the parts within their jurisdiction. Referral alone does not mean the measure has passed Congress or become law.
Latest action
Referred to the House Committee on Ways and Means.
Sponsors
- Rep. Panetta, Jimmy [D-CA-19]
California · House District 19 · Democratic
Record provenance
Stored record updated: 2026-09-15. This is separate from the action date and does not establish enactment.