summary
Introduced
03/28/2019
03/28/2019
In Committee
03/28/2019
03/28/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to extend for 2 years the exclusion from gross income of discharges of qualified principal residence indebtedness. This bill modifies the requirements for calculating taxable income to extend through 2019 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
AI Summary
This bill modifies the requirements for calculating taxable income to extend through 2019 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence. Specifically, it amends the Internal Revenue Code of 1986 to extend for 2 years, until January 1, 2020, the exclusion from gross income of discharges of qualified principal residence indebtedness. This provision was previously set to expire on January 1, 2018, and this bill extends it to continue providing tax relief for homeowners who have had mortgage debt forgiven or canceled.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Referred to the House Committee on Ways and Means. (on 03/28/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/1977/all-info |
| BillText | https://www.congress.gov/116/bills/hr1977/BILLS-116hr1977ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr1977/BILLS-116hr1977ih.pdf.pdf |
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