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MN HF4000

Bill

Official Source

Status

Introduced

3/5/2026

Primary Sponsor

Mike Wiener

Click for details

Origin

House of Representatives

94th Legislature 2025-2026

AI Summary

  • Creates a Minnesota income tax subtraction for capital gains on the sale of a principal residence that exceed federal exclusion limits ($250,000 for single filers, $500,000 for married couples filing jointly)

  • Applies only to properties that qualify for the federal exclusion under Internal Revenue Code section 121

  • Amends Minnesota Statutes section 290.0132 by adding a new subdivision (Subd. 40)

  • Effective for taxable years beginning after December 31, 2025

Legislative Description

Individual income tax subtraction for capital gains on the sale of a principal residence established.

Last Action

Author added Roach

3/9/2026

Committee Referrals

Taxes3/5/2026

Full Bill Text

No bill text available