Time to Heal Act

This bill increases the home sale exclusion for surviving spouses from $250,000 to $500,000 under specific conditions. It directly affects individuals who sell their primary residence after their spouse's death, provided they met the original home sale exclusion requirements before the spouse's death and have not remarried at any time after the spouse's death until the sale occurs. The key provision amends the Internal Revenue Code to substitute $500,000 for $250,000 in calculating the exclusion for qualifying sales. The change applies to taxable years beginning after the bill's enactment date.