119th Congress · introduced in the House · Feb 4, 2025
Mortgage Debt Tax Forgiveness Act of 2025
Official title from Congress.gov
Latest action (Feb 4, 2025): Referred to the House Committee on Ways and Means.
View on Congress.govPolicy area: Taxation
Congressional Research Service summary, version: Introduced in House (Feb 4, 2025)
Mortgage Debt Tax Forgiveness Act of 2025
This bill makes permanent the exclusion of the discharge of qualified principal residence indebtedness from gross income for federal tax purposes.
Under current law, a taxpayer may generally exclude from gross income up to $750,000 (or $375,000 if married but filing a separate federal tax return) from the discharge of indebtedness that is (1) incurred to purchase, build, or substantially improve a principal residence (or refinance such indebtedness); and (2) secured by the principal residence. The discharge must currently occur before January 1, 2026, and some limitations apply.
No cosponsors.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
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