New 1031 'like kind' exchange rules

[Andy Becker]

Can someone explain what the ramifications for RE investment are? Does this just make 1031's more restrictive? https://rsmus.com/what-we-do/services/tax/federal-tax/irs-issued-proposed-section-1031-regulations-for-like-kind-excha.html

[Dave Foster]

@Jeff Copeland, Well it's an attempt by the government to clarify and simplify.  Which means it will accomplish neither.  

For 95% of exchanges it's not going to make much difference at all. A duplex is universally understood to be a duplex and all.   So I don't see it doing much there.   And general classes of real estate don't seem to be affected much.  So that is business as usual.  Where I can see this having a big accounting impact is on cost segregation, documentation of that and carry forward in an exchange.  

@Andy Becker, the nuts and bolts of this I think are going to surround minutiae and not really impact most 1031s.  For instance making the distinction between a gas line that serves a stove as personal property vs a gas line that serves the heater system and so is real property.   

Like there's not enough going on now anyway??!!!  But what happened to the murder hornets?  Did I miss the murder hornets?