Search Results: keywords:"primary residence"

  • H. R. 10277 — To amend the Internal Revenue Code of 1986 to establish a deduction for certain amounts paid for rent for a primary residence.
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    Status:Introduced in House
    Words:785

    H.R. 10277, also known as the “Tax Relief for Renters Act of 2024,” proposes changes to the Internal Revenue Code of 1986 to allow taxpayers to deduct certain rent expenses for their primary residence from their taxable income. The bill specifies that individuals can deduct...

    Simple Explanation

    The Tax Relief for Renters Act of 2024 is like a new rule that says people can pay a little less in taxes if they spend money on renting their home, but only if they don't make too much money. This new rule would let people save some money when they pay their taxes by using money they spent on rent, starting after the end of 2024.

  • H. R. 9935 — To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for the addition of skirting to certain manufactured homes.
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    Status:Introduced in House
    Words:662

    H.R. 9935 proposes an amendment to the Internal Revenue Code of 1986 to introduce a refundable tax credit. This credit, amounting to 20% of the costs, is available to individuals who pay for skirting on certain manufactured homes during the tax year. However, the credit cannot exceed $500 and...

    Simple Explanation

    H.R. 9935 wants to give people money back when they put a special cover around their mobile homes to make them warmer in winter and cooler in summer, but they can only get up to $500 back and need to earn less than some big numbers to qualify.