New planned tax laws

[Tim Siocheng]

Now that we will be having a new president soon, i came across an article from marketwatch about the new real estate taxes.

https://www.marketwatch.com/story/10-biden-tax-proposals-that-will-sail-through-a-democratic-controlled-senate-and-how-to-prepare-for-them-11609958777?siteid=yhoof2

“6. Elimination of real-estate tax breaks

The Biden tax plan would:

(1) eliminate the $25,000 exemption from the passive loss rules for rental real estate losses incurred by middle-income individuals,

(2) eliminate Section 1031 like-kind exchanges that allow deferral of capital gains taxes on swaps of appreciated real property,

(3) eliminate rules that allow faster depreciation write-offs for certain real property, and

(4) eliminate qualified business income (QBI) deductions for profitable rental real estate activities. “

There’s already a thread going on about #2, but what about the other items that’s on the list?

How would these new proposed / planned tax law affect our investments?

Does it mean we will lose a lot of our real estate investment benefits and get taxed more?

I’m not sure how to interpret these new laws but i am not liking how it sounds like.