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Has 1031 Been Saved (For Real Estate)?

On Nov. 16, the House of Representatives passed HR-1 the “Tax Cuts and Jobs Act.” Now the legislation moves on to the Senate for its debate, markup…

Jonathan Hipp

On Nov. 16, the House of Representatives passed HR-1 the “Tax Cuts and Jobs Act.” Now the legislation moves on to the Senate for its debate, markup and passage. Whether it passes the Senate and winds up on the President’s desk in its current form, or at all, is currently up for debate. Much has been made of the proposed changes to the deductions available to ordinary taxpayers, changes in the tax brackets and the lowering of the corporate tax rate. Any one of those changes could have significant impact on the average person, good or bad, depending upon how you see the world.

For those focused on real estate, one of the areas that owners (and the industry as a whole) have anxiously been awaiting word on was that of like-kind or 1031 exchanges. Its elimination seems to be a source of anxiety every couple of years, only for nothing to happen.

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Jonathan Hipp

Jonathan Hipp

Jonathan Hipp began his career in real estate over 25 years ago. In his early years as a broker, he ventured into the net lease industry and quickly began leading the US net lease market, closing over $3 billion in transactions. In 2005, Jon founded Calkain Companies, a company focused solely on net lease investment services. As President and CEO, he has been instrumental in building the firm into one of the leading Net Lease real estate companies, transacting over $12 billion of net lease deal volume over the past 13 years. He has expanded Calkain’s services to include brokerage, advisory, asset management, capital markets, and industry research. He has become a well-known resource, panelist, and speaker at various Net Lease and Industry conferences and is a regular contributor to GlobeSt.com on real estate trends. In June 2015, Jon’s passion for the real estate business was again recognized as he was nominated for the Top Real Estate Player in the DC area by SmartCEO magazine.

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