We recently attended the Jeremiah Long Memorial National Conference on Like-Kind Exchanges. At the conference a lobbyist spoke about the likelihood that tax revenue could be raised by elimination of 1031 exchange from the income tax code. There has been much speculation about whether elimination of 1031 deferrals would, in fact, become a revenue raiser or cause transactional velocity to decline to a point where other tax revenues are lost from trickle down job losses. Elimination of 1031 benefits along with estate tax would become very detrimental to an owners ability to sell low basis real estate. Please click through to our website to read a recent call to arms on this matter.
Please click through to our website to find another link to read an industry memo we have posted as a call to arms. Industry Memo
Scott L. Skinner, Managing Partner