WaPo: Republicans want to do away with the 1031 exchange

[Marc C.]

Can't believe I haven't seen this posted before, as it's huge news! 

"You want tax reform? I got your tax reform right here:"

https://www.washingtonpost.com/realestate/republic...

If true, let me be the first to sarcastically say, "Thanks for ruining our industry." 

You'd better start calling your Congressional reps and senators if you don't want this to happen...don't assume "someone else will do it." 

[Mark Creason]

Originally posted by @Jason Barr:

What I heard was that the elimination of 1031, if it happens, would be tied to the addition of the ability to expense the entire purchase of a property in year 1.

Jason,

They are also talking about eliminating interest deductions.  That is the trade-off for the increase in year 1 depreciation.  Eliminating the 1031 is the Republicans attempt to be revenue neutral on tax reform.

I am sure @Bill Exeter remembers the last time Republicans changed the tax laws in 1986.  That tax reform created the Savings and Loan Scandal.  

Eliminate the exchange now, and cry in a couple of years when taxes are increased when deficits continue to grow.

Mark