skip to main content

H.R. 1977: Mortgage Forgiveness Tax Relief Act of 2019


The text of the bill below is as of Mar 28, 2019 (Introduced).


I

116th CONGRESS

1st Session

H. R. 1977

IN THE HOUSE OF REPRESENTATIVES

March 28, 2019

(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.