Biden’s tax plan would “pull the rug out” from under the real estate industry: insiders

Joe Biden went after one of the real estate industry’s favorite tax benefits Tuesday when he proposed funding a child- and elderly-care spending platform by closing off a loophole used by property investors. The presumptive Democratic presidential nominee proposed eliminating 1031 “like-kind” exchanges for investors with annual incomes greater than $400,000, as part of his plan to finance $755 billion in government spending over the next 10 years on child care and care for the

source https://therealdeal.com/2020/07/21/bidens-tax-plan-would-pull-the-rug-out-from-under-the-real-estate-industry-insiders/