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H.R.7034

To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes.

Introduced·1/13/26
Introduced

H. R. 7034

Introduced in House · January 28, 2026

January 13, 2026

Mr. Goldman of Texas introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Elimination of dollar limitations on exclusion of gain from sales of principal residences.

  1. (a) In general.— Section 121(b) of the Internal Revenue Code of 1986 is amended—

(1) by striking paragraphs (1), (2), and (4), and

(2) by redesignating paragraphs (3) and (5) as paragraphs (1) and (2), respectively.

  1. (b) Conforming amendments.—Section 121(c) of such Code is amended—

(1) in paragraph (1), by striking “, and subsection (b)(3)” and all that follows through “2 years” and inserting “, and subsection (b)(1), shall not apply”, and

(2) in paragraph (2)(A)(ii), by striking “subsection (b)(3)” and inserting “subsection (b)(1)”.

Effective date.—(c) Effective date.—The amendments made by this section shall apply to sales and exchanges after the date of the enactment of this Act.