Members of the Commercial Committee meet to discuss issues affecting REALTORS® in Washington, D.C.
Day three in D.C. at the Midyear Legislative Meetings & Trade Expo begins with the Commercial Committee chairs and vice chairs at a breakfast meeting.
On the agenda? Discussions about protecting the 1031 Like-Kind Exchange.
Like-kind exchanges under Internal Revenue Code Section 1031, allow individuals and businesses to defer capital gains taxes when one property is sold and the proceeds are reinvested in a similar property. Such exchanges benefit not just the economy but also spur job creation, according to the survey.
For commercial REALTORS®, this is a big deal, and without it there could be serious ramifications for those who invest in properties.