NAREIT and its partners in the Like-Kind Exchange Coalition are urging the House Ways and Means Committee to retain current law regarding like-kind exchanges under section 1031 of the Internal Revenue Code. The organizations also back retaining the current unlimited amount of gain deferral.
In a letter sent on Aug. 1 to Barbara Angus, the chief tax counsel for Ways and Means, the coalition indicated that recent talk of exploring comprehensive tax reform spurred them to offer their comments to the House tax-writing committee.
“Like-kind exchanges are integral to the efficient operation and ongoing vitality of thousands of American businesses, which in turn strengthen the U.S. economy and create jobs,” the organizations wrote.
(Contact: Robert Dibblee at rdibblee@nareit.com)