by Wes Wellman

President Biden's American Families Plan contains tax proposals with major implications for IRS Section 1031 like-kind exchanges.

If adopted, they would land the following 1-2 punch:

Limit the cumulative amount of gain to $500,000 an individual ($1 million a married couple) can defer from taxation on the increased value of exchanged investment property;

Read More: https://www.smobserved.com/story/2021/06/20/real-estate/you-might-want-to-sell-that-property-after-looking-at-president-bidens-american-families-plan/5756.html