The Obama administration revealed their proposed modification to “like-kind” exchange rules for real property affecting 1031 Exchanges possibly in 2015. The want to limit the amount of capital gain deferred under section 1031 from the exchange of real property to $1,000,000 per taxpayer per year.
Not good news for the real estate industry. Write your Congressman and encourage them to vote NO! Get the word out!
The Federal Reserve, Interest Rates, and 2015 Budget Proposal Possibly Affecting 1031 1031 Exchange Tax Proposal For 2015