Increases capital gains exclusion for seniors selling their primary residence during 2027-2030.

The bill proposes to amend the Internal Revenue Code to temporarily raise the capital gains exclusion for qualifying seniors selling their principal residence between 2027 and 2030. A qualifying residence is defined as a primary home owned for at least 25 years. A qualifying senior is an individual aged 65 or older at the time of sale. The exclusion increases to $1 million for unmarried seniors and $1 million per spouse for married couples filing jointly.

Increases capital gains exclusion for seniors selling their primary residence during 2027-2030.

The bill proposes to amend the Internal Revenue Code to temporarily raise the capital gains exclusion for qualifying seniors selling their principal residence between 2027 and 2030. A qualifying residence is defined as a primary home owned for at least 25 years. A qualifying senior is an individual aged 65 or older at the time of sale. The exclusion increases to $1 million for unmarried seniors and $1 million per spouse for married couples filing jointly.