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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.
Summary
This bill would amend the Internal Revenue Code to eliminate the dollar limitations on the exclusion of gain from the sale of a principal residence. Currently, taxpayers can exclude up to $250,000 of gain (or $500,000 if married filing jointly) from taxation when selling their primary home. The bill would remove these caps, allowing taxpayers to exclude all gains from the sale of a principal residence from federal income taxation. The changes would apply to home sales occurring after the bill's enactment.
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Sponsor (1)
7 cosponsors
Actions (3)
- Jan 21, 2026 ASSUMING FIRST SPONSORSHIP - Mr. Alford asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 4327, a bill originally introduced by Representative Greene (GA), for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. · house
- Jul 10, 2025 Referred to the House Committee on Ways and Means. · house
- Jul 10, 2025 Introduced in House
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
July 10, 2025
Ms. Greene of Georgia 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. SHORT TITLE.
This Act may be cited as the “No Tax on Home Sales Act”.
SEC. 2. 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>
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