Impact of new tax bill (Forbes article)

[Caleb Heimsoth]

Here a good article by Forbes that breaks down a lot of the new stuff in the tax bill. It clearly mentions real estate at least twice. The author argues that those who sell real estate could be adversely affected because they’re eliminating or capping most deductions like property taxes and interest. And for live in flips you’d have to live there 5 out of 8 years to get the capital gains exclusion. On the flip side it looks like rental property owners are winners as they can take depreciation faster and get to deduct 23 percent of qualifying income. So it depends on what part of real estate you’re involved in to know how this would affect you. https://www.forbes.com/sites/anthonynitti/2017/12/02/winners-and-losers-of-the-senate-tax-bill/#662579f6254d