Democratic presidential nominee Joe Biden has unveiled another piece of his economic plan — and it will be financed by taxes on real estate investors with incomes of $400,000 and above. The $775 billion “caring economy” plan, which seeks to support care for children and the elderly, would target tax breaks for “like-kind” 1031 exchanges, a senior campaign official told Bloomberg. The plan would also prevent investors from deducting real estate losses from their taxable
source https://therealdeal.com/2020/07/21/bidens-775b-caring-economy-plan-to-be-funded-by-real-estate-taxes/
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