- September 27, 2016
- September 22, 2016
- September 8, 2016
A Section 1031 Exchange, otherwise known as a Like-Kind Exchange refers to Section 1031 of the U.S. Internal Revenue Code which provides that capital gains taxes can be deferred if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Such transactions create and preserve many different kinds of jobs, allow multifamily owners to continue investing in real estate while deferring taxes attributable to sales of their investments and enable owners and developers of multifamily housing to most effectively invest their capital and meet the surging demand for workforce housing. Some in Congress and the Administration advocate for elimination or severe restriction of these transactions. Doing so would significantly erode business tools used by property owners and businesses.
NAA/NMHC Issue Fact Sheet: Congress should not alter the present-law like-kind exchange rules as part of any tax reform legislation. Proposals to revise or restrict like-kind exchanges may have a significantly harmful effect on the value and trading of property.
Letter to the Obama Administration regarding a proposal in the Fiscal Year 2016 budget proposal to limit the deferral of gain on real property like-kind exchanges. See the letter.
Learn about the perks and benefits of working in residential property management and some of the reasons the industry provides career growth, stability and endless opportunities.