NAR Joint Trade Letter to Senator Hatch and Senate Tax Act Committee Conferees Regarding Gain of Sale
Issue Date: December 07, 2017
US HR 0001 - The Tax Cuts and Jobs Act
On December 7, 2017 NAR, as part of a coalition of trade groups, sent a letter to Senator Hatch and the Senate members of the House-Senate Conference Committee for the Tax Cuts and Jobs Act. The coalition letter urges the Senators not to change the ownership qualification period for the exclusion from capital gains on the sale of a principal residence to five out of the last eight years. This will disproportionately penalize growing families and discourage labor mobility. The coalition does not believe this is the public policy outcome intended.