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119-hr-7349119th CongressWALLET

Time to Heal Act

Sponsored By: Representative Barrett, Tom [R-MI-7]

Introduced

Summary

Gives surviving spouses the same $500,000 principal-residence capital gains exclusion as married couples. This bill would let an individual whose spouse died use the $500,000 exclusion for a home sale if they met the ownership and use tests immediately before death and have not remarried before the end of the taxable year of the sale, and it would apply to sales in taxable years beginning after enactment.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Higher home sale tax break for surviving spouses

This bill would let you exclude up to $500,000 of gain when you sell your main home. The $500,000 limit would replace the $250,000 limit for qualifying surviving spouses. To qualify, your spouse must have been deceased on the sale date and must have met the paragraph (2)(A) requirements immediately before death. You must not have remarried before the close of the tax year in which the sale occurs. The exclusion would be the smaller of your gain or $500,000. This rule would apply to sales in taxable years beginning after the date of enactment.

Sponsors & CoSponsors

Sponsor

Barrett, Tom [R-MI-7]

MI • R

Cosponsors

  • Rep. Panetta, Jimmy [D-CA-19]

    CA • D

    Sponsored 2/11/2026

  • Rep. Smith, Adrian [R-NE-3]

    NE • R

    Sponsored 7/13/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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