The White House is developing a proposal to raise the capital gains tax to 39.6% for individuals making more than $1 million a year. And during the campaign, he said he wanted to completely end the 1031 exchange tax break.
Although all of this is currently speculative, if any went through, the real estate industry would have cause for concern.
"Real estate has long had a pretty good deal," Jessica Millett, a partner and chair of the tax department at real estate-focused law firm Duval & Stachenfeld, tells GlobeSt.com.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
