Always a favorite of real estate investors, the question looms, will there be an elimination of the 1031 exchange? Increasingly so, the answer may be ‘yes’, as Congress mulls options to implement a tax cut, while finding ways to supplement the tax breaks.
Currently a 1031 exchange applies to a variety of assets, however according to Ernst & Young LLP, real estate exchanges account for 36% of all 1031 exchanges, across industries.
For more insight, the Wall Street Journal published a recent article (1031 Exchange, a Cherished Real Estate Tax Break, Faces Extinction).
As you consider the timing of selling your senior care property, please contact Brad Goodsell at 630.858.2501 or firstname.lastname@example.org to discuss a complimentary valuation, and associated timeline of sale.