Personal income taxes: exclusions: capital gains: sale of residence.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Sponsors
- +2
- Latest action
- Jun 6, 2022
What it does
The Personal Income Tax Law provides, in modified conformity to federal income tax laws, for the manner in which taxable gains are to be recognized upon the disposition of property, including real property that is the principal residence of the taxpayer. Existing law allows an individual to exclude from their gross income up to $250,000 or $500,000, as specified, of gain realized on the sale or exchange of their residence if the taxpayer owned and occupied the residence as a principal residence for an aggregate period of at least 2 of the 5 years prior to the sale or exchange.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Done)
Floor (Current step)
Law (Needs attention)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
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