This bill allows homeowners to exclude all profits from the sale of their primary residence from taxes, without any dollar limits. This change helps homeowners keep more money when they sell their homes.
If you sell your home, you could keep all of your profit without paying taxes on it.
Who this affects
Homeowners selling residences
What changes is this bill making?
1This bill removes the dollar limits on tax exclusions for selling homes.
2Homeowners can keep more profit when they sell their main residence.
3It changes the tax code to benefit those selling their homes.
4The new rules apply to home sales after the bill becomes law.
