1031 Tax Loophole (Real Estate) may be axed.
 

Oh wow.

They may get rid of the 100 year old 1031 tax loophole.

I say...do it! It will destroy overpriced cities like NYC, Boston, San Francisco. :dance:

https://nationworldnews.com/investor...-tax-loophole/

I'll ignore that you advocate for "destroying" where I live (douche) and just give you a puppy.

https://dogtime.com/assets/uploads/2...evelopment.jpg

Where do you live?

https://www2.1031dst.com/a-guide-to-...SAAEgIcb_D_BwE

The 1031 Exchange name comes from Internal Revenue Code Section 1031. It enables you to defer capital gains tax and depreciation recapture by reinvesting the proceeds from the sale of investment property into replacement property, thus preserving significant wealth in your estate. Your 1031 exchange deferrals can be continued through as many exchanges as you wish. However, when you sell the property without reinvesting in a new property, there will be capital gains and depreciation recapture tax liability.

Born and bred NY'er and a Republican.