1031 Exchange Series: Legislative Clarity & Emerging Alternatives - Phoenix American
In the past, significant taxation of real estate has disincentivized people from selling so many may hold off on doing so until a new administration lowers capital gains rates. Housing inventory and affordability will drop sharply. Fewer investors wanting to sell will only worsen the existing housing crisis.
It is important to understand that…
- Section 1031 is a deferral, and referring to it as a tax cut or loophole for the wealthy is misleading
- 88% of properties acquired in like-kind exchanges are eventually sold in a taxable transaction, garnering more capital gains than other properties that are bought and sold through ordinary taxable sales
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