SECTION 1031 TAX REFORM UPDATE
Since originally posting of this content, The Tax Cuts and Jobs Act was signed into law and took effect on January 1, 2018. Broadly put, this bill preserved Section 1031 of the tax code. However, we find that it's still important to showcase the value of 1031 Exchanges on the commercial real estate industry and the economy.
Section 1031 exchanges have been helping drive real estate and economic activity for decades. However, for a number of years now, it’s been at risk of either revision or elimination. The elimination of Section 1031 has the potential to create havoc on the United States economy and disrupt the entire commercial real estate industry. That's why it's crucial to understand the importance of Section 1031 and make the right efforts to preserve it.
Below, we take a look at some more information on Section 1031, including its benefits, its future, and what the elimination of 1031 exchanges might mean for our economy and for you.