Senate Passes Sweeping Republican Tax Overhaul Bill

[Kishore P.]

Senate Passes Sweeping Republican Tax Overhaul Bill,

https://www.msn.com/en-us/news/politics/senate-pas...

Now that the Senate has passed their version of the Tax Overhaul Bill, the next logical bill will be the reconciliation between both the Congress and Senate version before the President Signs.

The President has the ability to Veto certain sections of the Bill.

Can the Learned CPA/Tax Attorneys here in BP weigh in on What? will the Mortgage/Realtor Lobbying Power do to influence the President to sign a Tax Bill into Law that is friendly to Real Estate Passive and Active Investors?

The proposed Bill has a potential to impact the following areas of Real Estate:

1. 529 Tuition plan to pay for Private Schools

2. Eliminate/Reduce Home Mortgage Interest Rate/City Taxes deduction?

3. 1031 Exchange Restriction/Elimination

4. Taxes on Rental Income for non-pass through and Pass-through corporate entities.

Pl, use judgment to comment from a strictly Real Estate Investor perspective and the tax code potential impact and refrain from posting mean personal rhetorical views on; taxation policy, party affiliation, immigration, religion etc.,

I request someone in the BP Community who are subject matter Experts on Taxation, namely CPA's and Tax Attorneys to facilitate and spearhead this Topic of Discussion going forward.

Thank You

Kishore . P