On Friday, December 22, 2017 the President signed tax reform bill, HR.1
which was passed by Congress on Wednesday, December 20, 2017.
In that legislation congress preserves the ability to do a Section 1031 Tax Deferred Exchange of real estate.
A 1031 Exchange is named after Section 1031 of the Internal Revenue Code and allows a seller of property to defer the payment of taxes upon the sale, by exchanging into replacement property.
During the 2017 legislative process various industry groups related to commercial and investment real estate worked diligently to preserve the ability to complete a 1031 Exchange due to the economic benefits 1031 Exchanges.
Among those who fought to preserve 1031 Exchanges is the Federation of Exchange Accommodators, a professional trade association of Qualified Intermediaries who facilitate 1031 Exchanges for their exchange customers.