The Future of the 1031 Exchange - Legislative Update (May 2021)

The Future of the 1031 Exchange
Legislative Update
President Biden released The American Families Plan in late April 2021. Among many other changes, it includes provisions to:
Eliminate the 1031 Exchange on certain transactions.
Eliminate the step-up in cost basis on inherited properties for certain taxpayers.
Increase the top tax rate on the wealthiest Americans to 39.6 percent.
and more.
This webinar will quickly update you regarding the changes that directly affect investment real estate contained in The American Families Plan. Join William L. Exeter, Chief Executive Officer, Exeter 1031 Exchange Services, LLC and Exeter Trust Company; Charles A. Jensen, Senior Vice President, Inland Securities Corporation; Dan Wagner, Senior Vice President of Government Affairs, The Inland Real Estate Companies; and other experts.
To take action, visit these sites:
1031buildsamer...
www.ipa.com/1031s/
Host:
Charles A. Jensen
Senior Vice President
Inland Securities Corporation
Panelist:
William L. Exeter
Chief Executive Officer
Exeter 1031 Exchange Services, LLC and Exeter Trust Company
[e-mail]
Greg Burns
Senior Vice President
IPX 1031
[e-mail]
Dan Wagner
Senior Vice President of Government Relations
The Inland Real Estate Companies
[e-mail]
#InlandSecuritiesCorporation #CharlesJensen #CharlesAJensen #DanWagner #TheExeterGroup #Exeter1031 #ExeterTrust #WilliamLExeter #IPX1031 #GregBurns #1031Exchange #DelawareStatutoryTrust
Recorded: 2021.05.06

[@TheExeterGroup]

GOOD NEWS! HOUSE WAYS AND MEANS COMMITTEE MARK-UP has been released.
1031 Exchanges were NOT included in the mark-up, so no changes to 1031 Exchanges.
The step-up in cost basis was NOT included in the mark-up, so no elimination of the step-up in cost basis.
Capital gain taxes for the 20% bracket will be increased to 25% (good news for us, because people that used to just pay the tax will now want to do a 1031 Exchange).
There is always a chance the above could change, but that is very very unlikely once we have reached this point.

[@TheExeterGroup]

Great presentation by Charles Jensen, Senior Vice President, Inland Securities Corporation; Dan Wagner, Senior Vice President, The Inland Real Estate Group of Companies; and Bill Exeter, Chief Executive Officer, Exeter 1031 Exchange Services, LLC and Exeter Trust Company, on the Biden Administration's proposed tax changes included in the American Families Plan. You can visit the following websites to help contact your congressional representative to let them know you are against these changes: www.1031taxreform.com
and www.ipa.com/1031s/.