1031 Exchanges Threatened Again
Every three (3) to five (5) years there is a new threat to Section 1031 of the Internal Revenue Code ("1031 Exchange." I think during the thirty-six (36) years that I have been in the 1031 Exchange industry almost every administration has proposed some kind of change, reduction or elimination of the 1031 Tax Deferred Exchange strategy.
It's an Education Thing!
It is important to note that this is not a Republican or Democratic Party "thing." Virtually every administration has attempted change. This is more about educating members of Congress as to the benefits of the 1031 Exchange and the unintended consequences that would result if 1031 Exchanges were significantly reduced or eliminated.
This time is no different.
Presidential candidate Biden's has announced he intends to eliminate 1031 Exchanges should he become President. Hosts Bill Exeter and Lauren Speidel of Go Ahead, ASK! discuss with Daniel Wagner, Senior Vice President, Government Relations, with The Inland Real Estate Group, LLC the proposal to eliminate 1031 Exchanges and the effect it would have on the real estate industry and the overall U.S. economy, and how investors, advisors and interested parties can help to educate members of Congress.
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