This is one of the best REFI posts I've read yet years later after OP. 

My judgement is that I thought you couldn't do 1031 on personal residences but I'm not sure how you're classifying the co-op you've bought (most people that buy co-ops use it as primary residence). 

Quote from @Henry Clark: OP My point:1. 

OP.  

the OP is missing the forest for the trees. 

You're killing me here man.This thread is about a proposal that would discourage corporate landlords from raising rent by more than 5%/yr by reducing their federal tax breaks if they do it.It's not my fault if you didn't read the actual proposal nor the other half of the OP that specifically mentioned the tax breaks being what is tied to the rent increase limit.You can't separate them. 

This is a new PM to the OP so initially trust but verify.

I would like to add that I was also defrauded the same way as the OP.

note the OP is not necessarily about the one month.  

Every time it was handled differently  LOLIt should still be up to 25% (it could be less if your marginal bracket was less, but its not in your OP).Incidentally, you can offset the depreciation recapture with capital losses.