H.R. 1340 Congress 119 session
More Homes on the Market Act
More Homes on the Market Act This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes). Under the bill, an individual may exclude from gross income gain from the sale of a principal residence of up to $500,000 (currently $250,000), and taxpayers who are married and file a joint federal income tax return may exclude up to $1 million (currently $500.000). The bill also requires these amounts to be adjusted annually for inflation.
Status
- Introduced
- Committee
- Floor vote
- Passed
- Enacted
In committee — last recorded action February 13, 2025
Referred to the House Committee on Ways and Means.
Passage likelihood
11% Lower than most bills at this stage
This is an estimate, not a guarantee. It is computed from the signals listed below and nothing else. It does not account for leadership priorities, floor scheduling, or negotiations that are not in the public record.
What the estimate is based on
- Historical base rate About 4% of introduced federal bills are enacted.
- Current stage Referred to committee.
- Cosponsors 157 cosponsors.
- Bipartisan cosponsorship Cosponsors come from 3 parties.
- Days without action No recorded action in 570 days.
State-level impact
State-level impact data is not available for this bill. The source text does not contain a per-state funding formula or scored breakdown, so no figures are shown.
Official actions
- Referred to the House Committee on Ways and Means.
- Introduced in House
- Introduced in House