H.R.1682 - To amend the Internal Revenue Code of 1986 to provide for an exclusion of capital gains upon the sale of a principal residence.105th Congress (1997-1998)
|Sponsor:||Rep. Blumenauer, Earl [D-OR-3] (Introduced 05/20/1997)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/20/1997 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1682 — 105th Congress (1997-1998)All Information (Except Text)
Introduced in House (05/20/1997)
Amends the Internal Revenue Code to exclude up to $250,000 ($500,000 jointly) of gain on the sale of a principal residence if owned and used as the principal residence for periods aggregating at least two years during the five-year period prior to sale or exchange.
Sets forth special rules relating to: (1) jointly held property; (2) a deceased spouse; (3) a cooperative housing tenant-stockholder; (4) partial principal residence use; (5) determination of marital status; (6) acquisition after involuntary conversion; and (6) periods of out-of-residence health care.