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Permanent Tax Forgiveness for Discharged Mortgage Debt

This bill aims to permanently exclude discharged mortgage debt on a principal residence from taxable income. This means if your bank forgives a portion of your home loan, you won't have to pay taxes on that amount, potentially offering significant financial relief in difficult situations.
Key points
Forgiven mortgage debt on your primary home will not be counted as taxable income.
This change will be permanent for debts discharged after December 31, 2025.
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Status:
Expired
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Additional Information
Mortgage Debt Tax Forgiveness Act of 2023
Print number: HR 3890
Sponsor: Rep. Brownley, Julia [D-CA-26]
Process start date: 2023-06-07
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Permanent Tax Forgiveness for Discharged Mortgage Debt

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 3890.

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 2023-06-07.

What are the main provisions?

Key points include:

  • Forgiven mortgage debt on your primary home will not be counted as taxable income.
  • This change will be permanent for debts discharged after December 31, 2025.

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. Brownley, Julia [D-CA-26].

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 2025-12-25.

Analysis and Potential Impact of HR 3890

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. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Real Estate