Increases tax breaks for home sales and creates new credits to build affordable homes.
This bill would make it easier for people to sell their homes by increasing the amount of profit they can exclude from taxes. It would also create a new tax credit to encourage building and renovating affordable homes. Additionally, it aims to improve housing safety and access for public servants and veterans.
Currently, individuals can exclude up to $250,000 (or $500,000 for married couples) in profit from capital gains when selling their main home, and there isn't a specific federal tax credit for building or renovating affordable owner-occupied homes. This bill would double the home sale exclusion to $500,000 for individuals and $1,000,000 for married couples, and create a new tax credit to encourage private investment in building and rehabilitating affordable homes in specific neighborhoods.
HR 4856 · 119th Congress · August 1, 2025 · AI Summary by gemini-2.5-flash · 8/10
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