There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (12/05/2006)

Amends the Internal Revenue Code to allow a surviving spouse to exclude from gross income up to $500,000 of the gain from the sale or exchange of a principal residence owned jointly with a deceased spouse if the sale or exchange occurs within two years of the death of the spouse and other ownership and use requirements have been met.