Lets homeowners avoid federal taxes on all profit from selling their main home.
Right now, there are dollar limits on how much profit from selling your main home you can avoid paying federal income tax on. This bill would remove those limits entirely. This means people selling their principal residence could keep all of their qualifying profits without paying federal income tax on them.
Today, individuals can avoid federal income tax on up to $250,000 of profit from selling their main home, and married couples can avoid tax on up to $500,000. If this bill becomes law, these dollar limits would be removed, allowing qualifying homeowners to exclude the entire profit from their main home sale from federal income tax.
HR 7034 · 119th Congress · January 13, 2026 · AI Summary by gemini-2.5-flash · 8/10
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