Potential For Repeal Of Section 1031

The elimination of 1031 exchanges would most likely only occur with true tax reform, where portions of the code are rewritten or eliminated, Todd R. Pajonas writes in this EXCLUSIVE commentary.

MELVILLE, NY—You might think that the current efforts to repeal or reform the Affordable Care Act have nothing to do with real estate investing. However, health care reform is the last bridge that Congress needs to cross before they can turn their attention to comprehensive tax reform.  Once Congress moves on to tax reform, there is the potential danger that IRC section 1031 tax deferred exchanges could be eliminated to pay for tax cuts and that could prove devastating to the real estate market. An IRC §1031 tax deferred exchange allows real estate investors to defer the capital gains tax they would normally recognize upon the sale of their business or investment property so long as they purchase real estate for an equal or greater value.

If you are interested in learning more information or you would like to start an exchange, please contact us by phone at (877) 701-1031 x 508 or by email at .

Source: http://www.globest.com/sites/paulbubny/2017/08/04/potential-for-repeal-of-section-1031/

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