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Increased tax exclusion for home sales: new limits and inflation adjustment.

This act raises the tax-free amount when selling a primary residence, meaning more people can sell their homes without paying capital gains tax. The new limits will also be adjusted for inflation, helping to preserve the value of the exclusion over time.
Key points
Increases the tax exclusion for gain from the sale of a principal residence from $250,000 to $500,000 for individuals.
Increases the tax exclusion from $500,000 to $1,000,000 for married couples filing jointly.
Introduces an annual inflation adjustment for these amounts, starting after 2022, to maintain their real value.
The changes apply to sales and exchanges occurring after the act's enactment date.
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Status:
Expired
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Additional Information
Print number: 117_HR_9015
Sponsor: Rep. Panetta, Jimmy [D-CA-20]
Process start date: 2022-09-28
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

More Homes on the Market Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9015.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-09-28.

What are the main provisions?

Key points include:

  • Increases the tax exclusion for gain from the sale of a principal residence from $250,000 to $500,000 for individuals.
  • Increases the tax exclusion from $500,000 to $1,000,000 for married couples filing jointly.
  • Introduces an annual inflation adjustment for these amounts, starting after 2022, to maintain their real value.
  • The changes apply to sales and exchanges occurring after the act's enactment date.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Panetta, Jimmy [D-CA-20].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Real Estate