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To amend the Internal Revenue Code of 1986 to temporarily increase the capital gains exclusion for any qualifying senior who sells a principal residence during a qualifying year, and for other purposes.
To amend the Internal Revenue Code of 1986 to temporarily increase the capital gains exclusion for any qualifying senior who sells a principal residence during a qualifying year, and for other purposes.
Summary
This bill temporarily increases the capital gains tax exclusion for seniors age 65 and older who sell a principal residence they have owned for at least 25 years. Currently, individuals can exclude $250,000 of capital gains from home sales, or $500,000 for married couples; the bill would increase these exclusions to $1,000,000 for qualifying seniors during the years 2027 through 2030. For married couples filing jointly where at least one spouse qualifies, the exclusion would be $1,000,000. For married seniors filing separately, the exclusion would increase to $500,000. The increased exclusions would expire after December 31, 2030.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Actions (2)
- May 29, 2026 Referred to the House Committee on Ways and Means. · house
- May 29, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
May 29, 2026
Ms. Malliotakis 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 temporarily increase the capital gains exclusion for any qualifying senior who sells a principal residence during a qualifying year, 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. TEMPORARY INCREASE TO CAPITAL GAINS EXCLUSION FOR SALE OF A PRIMARY RESIDENCE BY A SENIOR.
(a) In General.—Section 121(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
“(6) Special increased exclusion for sales by certain seniors during taxable years 2027 through 2030.—
“(A) In general.—In the case of a sale or exchange of a qualifying residence after December 31, 2026, and before January 1, 2031—
“(i) in the case a qualifying senior who is not married on the date of such sale or exchange, paragraph (1) shall be applied by substituting ‘$1,000,000’ for ‘$250,000’,
“(ii) the case of married individuals who make a joint return for the taxable year of such sale or exchange, if either spouse is a qualifying senior, paragraphs (2) and (4) shall each be applied by substituting ‘$1,000,000’ for ‘$500,000’ each place it appears, and
“(iii) in the case of a qualifying senior who is married and makes a separate return for the taxable year of such sale or exchange, paragraph (1) shall be applied by substituting ‘500,000’ for ‘$250,000.’.
“(B) Qualifying senior.—For purposes of this paragraph, the term ‘qualifying senior’ means an individual who is at least 65 years old on the date of such sale or exchange.
“(C) Qualifying residence.—For purposes of this paragraph, the term ‘qualifying residence’ means a principal residence that has been owned by the taxpayer (in the case of a joint return, by either spouse) for at least 25 years.”.
(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2026. <all>
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