Biden Capital Gains Tax Proposal

[Dan Vleck]

I'm at the point, after several years of buying single family rentals, of selling houses and buying multifamily properties.  I see on the TV this morning that President Biden is proposing to raise the capital gains tax rate from 20% to 39%.  Not a big surprise, but it had been difficult to distinguish between candidate rhetoric and policy agenda.  This now appears to be a priority agenda item to raise tax revenues. This would really mess up my plans for 2021 and 2022.  

I guess an option would be to refi some cash out to invest in bigger properties, but my goal was to get rid of 10 headache houses to grow my portfolio.

Anyone else concerned?