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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7034 Introduced in House (IH)]
<DOC>
119th CONGRESS
2d Session
H. R. 7034
To amend the Internal Revenue Code of 1986 to eliminate the dollar
limitations on the exclusion of gain from sales of principal
residences, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 13, 2026
Mr. Goldman of Texas introduced the following bill; which was referred
to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to eliminate the dollar
limitations on the exclusion of gain from sales of principal
residences, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. ELIMINATION OF DOLLAR LIMITATIONS ON EXCLUSION OF GAIN FROM
SALES OF PRINCIPAL RESIDENCES.
(a) In General.--Section 121(b) of the Internal Revenue Code of
1986 is amended--
(1) by striking paragraphs (1), (2), and (4), and
(2) by redesignating paragraphs (3) and (5) as paragraphs
(1) and (2), respectively.
(b) Conforming Amendments.--Section 121(c) of such Code is
amended--
(1) in paragraph (1), by striking ``, and subsection
(b)(3)'' and all that follows through ``2 years'' and inserting
``, and subsection (b)(1), shall not apply'', and
(2) in paragraph (2)(A)(ii), by striking ``subsection
(b)(3)'' and inserting ``subsection (b)(1)''.
(c) Effective Date.--The amendments made by this section shall
apply to sales and exchanges after the date of the enactment of this
Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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