Tax Reform Hits 1031 Exchanges With Hidden Penalty
From Nov. 14:
Many high-net-worth clients with substantial real estate holdings were relieved to learn that the 2017 tax reform legislation did not eliminate the valuable like-kind exchange rules as they apply to real estate investments. While this continues to be the case, new complexities added by the Section 199A deduction for the qualified business income of certain pass-through businesses could diminish the value and attractiveness of like-kind exchanges under the new tax code.
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