The White House is developing a proposal to raise the capital gains tax to 39.6% for individuals making more than $1 million a year. And during the campaign, he said he wanted to completely end the 1031 exchange tax break.
Although all of this is currently speculative, if any went through, the real estate industry would have cause for concern.
"Real estate has long had a pretty good deal," Jessica Millett, a partner and chair of the tax department at real estate-focused law firm Duval & Stachenfeld, tells GlobeSt.com.
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