American Home Mobility Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10883 Introduced in House (IH)]

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119th CONGRESS 2d Session H. R. 10883

To amend the Internal Revenue Code of 1986 to provide for nonrecognition of gain or loss on like-kind exchanges of certain residential real property, and for other purposes.

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IN THE HOUSE OF REPRESENTATIVES

October 22, 2026

Mr. Lawler (for himself and Mr. Gottheimer) introduced the following bill; which was referred to the Committee on Ways and Means

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A BILL

To amend the Internal Revenue Code of 1986 to provide for nonrecognition of gain or loss on like-kind exchanges of certain residential real property, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``American Home Mobility Act''.

SEC. 2. NONRECOGNITION OF GAIN OR LOSS ON LIKE-KIND EXCHANGES OF CERTAIN RESIDENTIAL REAL PROPERTY.

(a) In General.--Section 1031(a)(1) of the Internal Revenue Code of 1986 is amended-- (1) by striking ``recognized on the exchange of real property'' and inserting ``recognized on-- ``(A) the exchange of real property'', (2) by striking the period at the end and inserting ``, or'', and (3) by adding at the end the following: ``(B) the exchange of real property if-- ``(i) during the 30-year period ending on the date of the exchange, such property has been owned and used by the taxpayer as the taxpayer's principal residence (within the meaning of section 121), and ``(ii) such property is exchanged solely for real property of like-kind which is to be held for use as the taxpayer's principal residence (within such meaning).''. (b) Conforming Amendments.-- (1) The heading of section 1031 of such Code is amended by inserting ``, or held for use as principal residence'' after ``investment''. (2) The item relating to section 1031 in the table of sections for part III of subchapter O of chapter 1 of such Code is amended by inserting ``, or held for use as principal residence'' after ``investment''. (c) Effective Date.--The amendments made by this section shall apply to exchanges completed after December 31, 2026. <all>