The Make the American Dream Real Again Act creates a new federal tax credit for homeowners who sell their primary residence to first-time homebuyers. Under the bill, eligible sellers can claim a refundable tax credit equal to the lesser of the actual home acquisition expenses they pay for the buyer (such as down payment, inspection costs, and closing costs) or the amount of capital gains tax they would owe on the sale. The bill defines first-time homebuyers as individuals who have not owned a home in the previous two years. The legislation takes effect for tax years beginning after December 31, 2026, and directs the Treasury Department to issue regulations implementing the program. The bill includes technical amendments to ensure the new credit is properly integrated into the federal tax code.
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