1031 LIKE KIND EXCHANGES: Under both the House and Senate tax reform proposals released in the 113th Congress, Section 1031 is repealed, and further, the President’s budget for Fiscal Year 2015 proposes limits on the deferral provisions of Section 1031. Although none of these proposals progressed in the 113th Congress, if tax reform plans are introduced in the 114th Congress it is likely that they will borrow heavily from the previous ones, so Section 1031 is still at risk. Thus far, no tax reform plans have been introduced in 2015.
National Association of REALTORS® Issue Brief
Commercial Real Estate
“Doral Commercial Real Estate Specialist”
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*Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advise and is for information purposes only.