Commercial real estate professionals got worried in 2021 when the Biden administration floated its proposals to cut big tax reduction strategies, including 1031 like-exchanges. Congress didn’t move them into law, generating a giant collective sigh of relief in the CRE industry.

But the recent White House budget shows that the administration would still love to get rid of the 1031 by making it only eligible for a top property value of $500,000 for an individual and $1 million for a couple. (At current property prices, it’s not clear how often even small-time investors would be able to take advantage.)

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