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Section 1031; A thing of the past ?

Posted by Kevin Dougherty in Uncategorized | 0 comments

A thing of the past ? It may be if President Obama gets his way.

President Obama’s 2016 Budget Proposal includes provisions that would modify current laws relating to §1031 limiting the deferral on real property to a $1 million dollar cap annually and recommending that art and collectibles would no longer be eligible for like-kind exchanges.

See page 111 from the link below:

In addition to the §1031 provisions, the Budget Proposal also addresses tax relief for small business, tax reform for families and individuals as well reforms to capital gains and upper-income benefits.

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