The IRS has released proposed regulations to provide guidance on the changes made to Section 1031 (like-kind exchanges), enacted by the Tax Cuts and Jobs Act (TCJA). The proposed regulations define the term “real property” for purposes of determining whether property qualifies for a Section 1031 exchange. Taxpayers can rely on the proposed rules for property exchanges that occur after December 31, 2017, and before the final regulations are published.
TCJA limitation
Prior to 2018, Section […]