A bill to amend the Internal Revenue Code of 1986 to provide that the one-time exclusion of gain from sale of a principal residence shall not be precluded because the taxpayer's spouse, before becoming married to the taxpayer, elected the exclusion.

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Status In Committee
Sponsor Jesse Helms
Citation 103-S-198
Actions 2
Introduced Jan 26th, 1993
Cosponsors
Last Action Jan 26th, 1993
Policy Area
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Introduced Senate Jan 26
Senate
House
President
Enacted

Summary

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What this bill does

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Amends the Internal Revenue Code to permit a taxpayer aged 55 or older to qualify for the one-time income tax exclusion of gain from the sale of a principal residence even if the taxpayer's spouse already took advantage of the exclusion before marrying the taxpayer.

Actions

2
Senate
INTRODUCED
INTRODUCED
Jan 26, 1993
ON FLOOR
REFERRED TO COMMITTEE
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