President Donald Trump expressed a desire to eliminate taxes on capital gains from home sales, which would affect homeowners and the real estate market. U.S. Rep. Marjorie Taylor Greene introduced the No Tax on Home Sales Act, aimed at removing the federal capital gains tax on primary residence sales to ease financial burdens on homeowners. The proposal seeks to address decreased housing inventory and disincentives for selling due to tax impacts. Prior support from the National Association of Realtors® for tax reform highlights ongoing concerns and efforts to revise current laws affecting home sales.
President Donald Trump reaffirmed his commitment to removing taxes on capital gains from home sales, which could significantly impact homeowners and the real estate market.
U.S. Rep. Marjorie Taylor Greene's proposed No Tax on Home Sales Act aims to eliminate federal capital gains tax on primary residence sales, alleviating financial burdens.
The proposed bill addresses concerns over housing inventory and impacts of tax implications that discourage homeowners from selling, potentially aiding those wanting to sell.
The National Association of Realtors® previously endorsed the More Homes on the Market Act to update capital gains exclusion thresholds, indicating continuous efforts for tax reform.
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