Sec. 1419. Limitation on exclusion for employer-provided housing
140 words·~1 min read·
/bill/113/hr/1/ih/section-1419A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 119 is amended by adding at the end the following new subsection: The aggregate amount excluded from gross income of the taxpayer under subsections
(a)and
(d)with respect to lodging for any taxable year shall not exceed $50,000 (half such amount in the case of a married individual filing a separate return). Subsections
(a)and
(d)(separately and in combination) shall not apply with respect to more than 1 residence of the taxpayer at any given time. In the case of a joint return, the preceding sentence shall apply separately to each spouse for any period during which each spouse resides separate from the other spouse in a residence which is provided in connection with the employment of each spouse, respectively. . The amendment made by this section shall apply to taxable years beginning after December 31, 2014.