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.
About This Bill
Committee
Latest Action · May 29, 2026
Referred to the House Committee on Ways and Means.
This bill temporarily increases the amount of profit that seniors can exclude from federal taxes when selling their primary home. Under current law, most homeowners can exclude up to $250,000 in capital gains ($500,000 for married couples filing jointly), but this bill would raise those limits to $1,000,000 for single seniors and $1,000,000 for married couples where at least one spouse is a senior, during the years 2027 through 2030. To qualify, a person must be at least 65 years old and have owned the home as their principal residence for at least 25 years. The bill has no specified federal funding requirement since it reduces tax revenue rather than spending money. The temporary increase expires on January 1, 2031, after which the standard capital gains exclusions return to their previous levels.
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