A must read by Rep. Steve Stivers (R-Ohio) that appeared in The Hill on why it’s crucial to preserve 1031 as tax reform moves forward. Read article here.
1031 Exchange Partnership Issues: Maintaining Tax Deferral for Partnerships and Exiting Partners
Frequently investors pool money and form partnerships or LLCs* to acquire and operate investment properties. Partnerships can defer their taxes utilizing 1031 Exchanges when they sell their properties. Although partnerships and LLCs are well suited for owning and...