Number: RL32978
Title: Exclusion of Capital Gains for Owner-Occupied Housing
Authors: Jane G. Gravelle and Pamela J. Jackson, Government and Finance Division 
Abstract: This report examines the capital gains exclusion and the ceiling. The first section describes the current tax rules, and the second section presents the historical development of the capital gains provisions. The third section discusses potential justifications for capital gains relief, as well as tax avoidance problems that may arise. The final section discusses various options for change, primarily focusing on the dollar ceiling.
Pages: 21
Date: December 26, 2007