26 U.S.C. 121: Exclusion of gain from sale of principal residence

2017

• Pub. L. 115–97, §11051(b)(3)(A)(i), struck out "(as defined in section 71(b)(2))" after "divorce or separation instrument". Law text · (d)
• Pub. L. 115–97, §11051(b)(3)(A)(ii), added subpar. (C). Law text · (d)

2014

• Pub. L. 113–295, §221(a)(20), struck out subpar. (A) designation and heading and subpar. (B) and realigned margins. Prior to amendment, text of subpar. (B) read as follows: "Subparagraph (A) shall be applied without regard to any sale or exchange before May 7, 1997." Law text · (b)
• Pub. L. 113–295, §212(c), redesignated par. (4), relating to exclusion of gain allocated to nonqualified use, as (5). Law text · (b), (5)
• Pub. L. 113–295, §213(c)(1), inserted "of paragraph (9)" after "and (D)". Law text · (d)

2010

• Pub. L. 111–312 amended subsec. (d) to read as if amendment by Pub. L. 107–16, §542(c), which originally added par. (9), had never been enacted. See Codification notes above and 2001 Amendment note and Effective Date of 2010 Amendment note below. Prior to amendment, par. (11) read … (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (d)

2008

• Pub. L. 110–289 added par. (4) relating to exclusion of gain allocated to nonqualified use. (Housing and Economic Recovery Act of 2008) Law text · (b)
• Pub. L. 110–245, §113(b), struck out heading and text of cl. (vi). Text read as follows: "An employee of the intelligence community shall not be treated as serving on qualified extended duty unless such duty is at a duty station located outside the United States." (Heroes Earnings Assistance and Relief Tax Act of 2008) Law text · (d)
• Pub. L. 110–245, §113(a), struck out heading and text of subpar. (E). Text read as follows: "Clause (iii) of subparagraph (A) shall not apply with respect to any sale or exchange after December 31, 2010." (Heroes Earnings Assistance and Relief Tax Act of 2008) Law text · (d)
• Pub. L. 110–245, §110(a), added par. (12). (Heroes Earnings Assistance and Relief Tax Act of 2008) Law text · (d)

2007

• Pub. L. 110–142 added par. (4) relating to special rule for certain sales by surviving spouses. (Mortgage Forgiveness Debt Relief Act of 2007) Law text · (b)
• Pub. L. 110–172 added subpar. (E). (Tax Technical Corrections Act of 2007) Law text · (d)

2006

• Pub. L. 109–432, §417(d), substituted "Uniformed services, Foreign Service, and intelligence community" for "Members of uniformed services and Foreign Service" in heading. (Tax Relief and Health Care Act of 2006) Law text · (d)
• Pub. L. 109–432, §417(a), substituted "duty— (Tax Relief and Health Care Act of 2006) Law text · (d)
• Pub. L. 109–432, §417(b), added cl. (iv) and redesignated former cl. (iv) as (v). (Tax Relief and Health Care Act of 2006) Law text · (d), (v)
• Pub. L. 109–432, §417(c), added cl. (vi). (Tax Relief and Health Care Act of 2006) Law text · (d)

2005

• Pub. L. 109–135, §403(ee)(2), amended heading and text of par. (10) relating to property acquired in like-kind exchange generally. Prior to amendment, text read as follows: "If a taxpayer acquired property in an exchange to which section 1031 applied, subsection (a) shall not apply… (Gulf Opportunity Zone Act of 2005) Law text · (d)
• Pub. L. 109–135, §403(ee)(1), redesignated par. (10), formerly par. (9), as added by Pub. L. 107–16, as (11). See Codification notes above and 2001 and 2003 Amendment notes and Effective Date of 2001 Amendment note below. (Gulf Opportunity Zone Act of 2005) Law text · (d)
• Pub. L. 109–135, §402(a)(3), substituted "section 1223(6)" for "section 1223(7)". (Gulf Opportunity Zone Act of 2005) Law text · (g)

2004

• Pub. L. 108–357 added par. (10) relating to property acquired in like-kind exchange. (American Jobs Creation Act of 2004) Law text · (d)

2003

• Pub. L. 108–121 added par. (9) and redesignated former par. (9), as added by Pub. L. 107–16, as (10). See Codification notes above and 2001 Amendment note and Effective Date of 2001 Amendment note below. (Military Family Tax Relief Act of 2003) Law text · (d), (10)

2001

• Pub. L. 107–16, §542(c), added par. (9). See Codification notes above and Effective Date of 2001 Amendment note below. (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (d)

1998

• Pub. L. 105–206, §6005(e)(1), substituted "Special rules for joint returns" for "$500,000 limitation for certain joint returns" in heading and amended text generally. Prior to amendment, text read as follows: "Paragraph (1) shall be applied by substituting '$500,000' for '$250,000' … (Internal Revenue Service Restructuring and Reform Act of 1998) Law text · (b)
• Pub. L. 105–206, §6005(e)(2), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "In the case of a sale or exchange to which this subsection applies, the ownership and use requirements of subsection (a) shall not apply and subsecti… (Internal Revenue Service Restructuring and Reform Act of 1998) Law text · (c)

1997

• Pub. L. 105–34 amended section catchline and text generally. Prior to amendment, section related to one-time exclusion of gain from sale of principal residence by individual who had attained age 55. (Taxpayer Relief Act of 1997) Law text

1988

• Pub. L. 100–647 added par. (9). · (d)

1981

• Pub. L. 97–34 substituted "$125,000 ($62,500" for "$100,000 ($50,000". · (b)

1978

• Pub. L. 95–600, §404(a), substituted "One-time exclusion of gain from sale of principal residence by individual who has attained age 55" for "Gain from sale or exchange of residence of individual who has attained age 65" in section catchline.
• Pub. L. 95–600, §404(a), substituted "55" for "65", "5-year" for "8-year", and "3 years" for "5 years". · (a)
• Pub. L. 95–600, §404(a), in par. (1) substituted provisions respecting dollar limitations for amount of gain for provisions setting forth applicable limitations where the adjusted sales price exceeds $35,000 and added par. (3). · (b)
• Pub. L. 95–600, §404(c)(1), substituted "5-year period" for "8-year period". · (d)
• Pub. L. 95–600, §404(c)(2), substituted "5-year period" for "8-year period" and "3 years" for "5 years". · (d)
• Pub. L. 95–600, §404(b), added par. (8). · (d)

1976

• Pub. L. 94–455, §1404(a), substituted "$35,000" for "$20,000" in three places. · (b)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (c), (d)