November 22, 2021 The House of Representatives passed a $1.7 trillion spending bill last Friday, November 19th. At this point Section 1031 remains intact and unchanged. The Administration’s proposal to cap Section 1031 at $500K per taxpayer was not included as a “Pay...
October 29, 2021 1031 Zombie Legislative Update What a week it has been for the living! The proposal to cap Sec 1031 like-kind exchanges at $500,000, effectively a repeal of this important tax-deferral, tax-timing tool, is Zombie legislation. It’s a bad idea that...
September 2021 1031 tax policy is justified. It’s proven and sound. Limiting or eliminating Section 1031 is a truly ineffective pay-for. Our own IPX1031 Suzanne Goldstein Baker’s latest piece just published in Tax News Federal (PDF version here) explains why: Tax...
September 2021 1031 Will Be In or Out The House recently passed the 2022 reconciliation Budget Resolution that sets up work on the 3.5 trillion infrastructure plan including social programs and tax increases. It is the tax increases that threaten Section 1031 with a...
August 2021 On August 11, the U.S. Senate approved an amendment to preserve Section 1031 in its current form. The amendment was offered by Sen. Kennedy (R-LA) as part of the budget resolution Vote-a-Rama, and it passed by unanimous voice vote. While the passage of...
We need YOUR help! The President has proposed limiting 1031 Exchange tax deferral to a maximum of $500K. The administration says the drastic change is part of the plan to “pay for” the cost of the $1.8 trillion American Families Plan. This is a direct threat to...
June 2018 As we all know, Section 1031 was preserved in the 2017 Tax Cut and Jobs Act (JCTA), but only for real property assets. Personal property assets, such as machinery, equipment, vehicles, rolling stock, aircraft, collectibles and artwork, no longer qualify for...
