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Fournier Law Blog

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Commercial Realtors React to Tax Reform Efforts to Repeal 1031 Exchanges

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Commercial realtors are weighing in on aggressive lobby efforts to repeal 1031 exchanges. The proposed 2015 tax reform would close the loophole that allows businesses and investors to defer the payment of capital gains tax on property swapped in a “like-kind” exchange. For many commercial realtors, these transactions represent 30 percent of their business. If Congress passes reform legislation that eliminates the tax deferment, commercial realtors say sellers will be more reluctant to sell their properties. The issue is so important to the health of the commercial real estate industry that realtors are reaching out to legislators to voice their concerns.
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