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 increase the exclusion of gain from the sale of a principal residence. It raises the exclusion limit from $250,000 to $500,000 for single filers and from $500,000 to $1,000,000 for married couples filing jointly. The bill also includes an adjustment for inflation starting from taxable years after 2024. These changes apply to sales and exchanges occurring after the enactment of this Act.
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