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February 29, 2016

White House – Treasury: 2017 Budget Proposal and Like-Kind Exchange Rules

 

Analytical Perspectives, the Obama Administration's FY 2017 Budget Proposal, proposes changes to IRC Section 1031. The proposal limits the annual deferral of capital gain on like-kind exchanges to $1 million dollars per taxpayer per year. The budget proposal limits the deferral of capital gain on exchanges of all real and personal property, which is a change from previous budget proposals. Similar to previous proposals by the Obama Administration, the Budget excludes art and collectibles from eligibility. Read more.

 
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