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Updated almost 4 years ago, 01/08/2021
Preparing for possible tax changes.
I had been reading an article on marketwatch (https://www.marketwatch.com/st...), the part that stood out to me were the possible changes related to real estate that may be put into place.
- eliminate the $25,000 exemption from passive loss
- eliminate section 1031 like-kind exchanges that allow deferral of capital gains
- eliminate rules that allow faster deprciaion write offs (I assume this is geared toward killing oppertunity zones)
- eliminate qualified business income deductions for profitable real estate activity
- elimination of basis step-up for inheritance
I wanted to see if anyone is planning to make any changes or take any specific action mitigate any of these?