Biden proposal would close longtime real-estate tax loophole


Source: The Wall Street Journal
by Will Parker
April 28, 2021

Under the American Families Plan, 1031 Like-Kind Exchanges would be capped at $500,000. The White House claims the IRC Section 1031 is a tax loophole, where as AAHOA and other trade associations note its economic growth patterns, job creation, and community investment incentives.

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