Mortgage Forgiveness Tax Relief Act of 2013

Bill: 113-hr-2994
Sponsor: full_name: Rep. Reed, Tom [R-NY-23]
Introduced: 2013-08-02
Policy area: Taxation
Subjects: Housing finance and home ownership

Income tax exclusion
Latest action: action_date: 2013-08-02
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-08-02
action_desc: Introduced in House
text: <p>Mortgage Forgiveness Tax Relief Act of 2013 - Amends the Internal Revenue Code to extend through 2014 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 2994 IN THE HOUSE OF REPRESENTATIVES August 2, 2013 Mr. Reed (for himself, Mr. Rangel , Mr. Roskam , Mr. Thompson of California , Mr. Brady of Texas , Ms. Linda T. Sánchez of California , Mr. Griffin of Arkansas , Mr. Boustany , Mr. Kind , Mr. Neal , Ms. Jenkins , Mr. Larson of Connecticut , Mr. Watt , Mr. McGovern , Mr. Ribble , Mr. Capuano , Mr. Turner , and Mr. Buchanan ) 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 extend for 1 year the exclusion from gross income of discharges of qualified principal residence indebtedness.

1. Short title This Act may be cited as the Mortgage Forgiveness Tax Relief Act of 2013 . 2. 1-year extension of exclusion from gross income of discharge of qualified principal residence indebtedness (a) In general Subparagraph (E) of section 108(a)(1) of the Internal Revenue Code of 1986 is amended by striking January 1, 2014 and inserting January 1, 2015 . (b) Effective date The amendment made by this section shall apply to indebtedness discharged after December 31, 2013.