US Codex
Bill
Notes

Mortgage Forgiveness Tax Relief Act of 2019

H.R. 1977 · 116th Congress · Mar 28, 2019 · Lineage

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.