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.

119 HR 7034 IH: 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. U.S. House of Representatives 2026-01-13 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 2d Session H. R. 7034 IN THE HOUSE OF REPRESENTATIVES 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. 1. Elimination of dollar limitations on exclusion of gain from sales of principal residences (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. (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) . (c) Effective date The amendments made by this section shall apply to sales and exchanges after the date of the enactment of this Act.