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NEW YORK CITY—There is very little that the Congressional Republicans and President Obama agree upon, but the elimination of Section 1031of the Internal Revenue Code, the Tax Deferred Exchange provision, would appear to be at risk in both the Tax Reform Proposal put forward by Republican House Ways and Means Committee Chair David Camp, and President Obama’s Proposed Tax Reform legislation. The loss of the ability to do a Tax Deferred Exchange would have a dramatic and significant change in the way in which real estate is held, transferred and taxed. Since both Congress and the President seem to have 1031′s in their sights, the real estate industry should take note and act while it can.

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