More Homes on the Market Act

Key Points

• Raises the home sale profit you can exclude from federal taxes when selling your main home: from $250,000 to $500,000 for single filers.
• Raises the exclusion for married couples filing together: from $500,000 to $1,000,000 when selling a primary residence.
• Adds an inflation adjustment starting after 2025, so these dollar limits can rise over time instead of staying fixed.
• Could encourage more homeowners—especially long-time owners with big price gains—to sell without a large tax hit.
• Would likely reduce federal tax bills for some sellers, but mainly helps people whose home value has risen a lot since they bought it.

Votes

No votes have been recorded for this legislation yet.