Mortgage Forgiveness Tax Relief Act of 2019

Bill: 116-hr-1977
Sponsor: full_name: Rep. Kind, Ron [D-WI-3]
Introduced: 2019-03-28
Policy area: Taxation
Subjects: Housing finance and home ownership

Income tax exclusion
Latest action: action_date: 2019-03-28
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-03-28
action_desc: Introduced in House
text: <p><b>Mortgage Forgiveness Tax Relief Act </b><b>of 2019</b></p> <p> This bill modifies the requirements for calculating taxable income to extend through 2019 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 1977 IN THE HOUSE OF REPRESENTATIVES March 28, 2019 Mr. Kind (for himself, Mr. Reed , and Mr. Courtney ) 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 2 years 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 2019 . 2. Two-year extension of exclusion from gross income of discharge of qualified principal residence indebtedness (a) In general Section 108(a)(1)(E) of the Internal Revenue Code of 1986 is amended by striking January 1, 2018 each place it appears and inserting January 1, 2020 . (b) Effective date The amendments made by this section shall apply to discharges of indebtedness after December 31, 2017.