Increases the exclusion of gain from the sale of a principal residence under the Internal Revenue Code.
The More Homes on the Market Act amends the Internal Revenue Code to double the exclusion of gain from the sale of a principal residence. The exclusion increases from $250,000 to $500,000 for single filers and from $500,000 to $1,000,000 for married couples filing jointly. The changes apply to sales and exchanges after the enactment of this Act. Additionally, the Act includes an adjustment for inflation for taxable years beginning after 2024.
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