Larry Sullivan Sullivan: ““What we do know is that, so far, no one has mentioned anything about 1031 exchanges, on record, in any regard, so you have to remain thoughtful about the direction it might take going forward.”

IRVINE, CA—Used by industries as diverse as rental cars and farming, 1031 exchanges affect a broader swath of the business world than many commercial real estate executives realize, making them an even more significant part of the tax-reform issue, Passco Cos.’ president Larry Sullivan tells GlobeSt.com. With tax reform being a hot-button issue right now—and one of concern to the CRE industry—we spoke with Sullivan, an expert on the subject, about what we should know about tax reform and 1031 exchanges.

“First of all, I can only talk to you about tax reform as of this moment because it can change, and the whole situation is very fluid,” Sullivan tells us. “As I have told several conference audiences, expect the tax-reform journey to be a road trip filled with many rights, lefts, roundabouts and unexpected detours.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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