H.R. 2127 — Fair Taxes for Seniors Act of 2005

Summary

Fair Taxes for Seniors Act of 2005 - Amends the Internal Revenue Code to provide a one-time increase (from $250,000 to $500,000, or from $500,000 to $1 million for married taxpayers filing joint returns) in the exclusion of gain from the sale of a principal residence by a taxpayer who has attained the age of 50 before such sale. Provides that in the case of a joint return, only one spouse need satisfy the age requirement.

Full Text

Legislative Actions

2005-05-05
Introduced in House
2005-05-05
Introduced in House
2005-05-05
Sponsor introductory remarks on measure. (CR E897)
2005-05-05
Referred to the House Committee on Ways and Means.

Fair Taxes for Seniors Act of 2005

Sponsors

Subjects

Summary

Full Text

Legislative Actions

Ask about this bill