Tax Revision Proposal Targets Everything But Real Estate

For real estate investors carefully watching Washington for signs of section 1031’s fate under proposed tax reform, the recent data coming out is letting most breathe a sigh of relief. It appears that Republican proposals will preserve #1031 exchanges for real estate.

However, section 1031 won’t carry on unchanged. The tax reform proposals are aiming to eliminate the exchange process for anything but real estate, leaving those who rely on it to exchange other goods, like pricey art work, sounding alarm bells.

Of course, the proposal is far from a done deal and many things could change before any legislation is actually enacted.

Read a full analysis of the impact the proposed changes would have on the art world here.

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