What President Biden’s Tax Plan Means for Real Estate Inheritance and Gifting
If you are in line to inherit real estate or planning on passing down real estate to your children, you need to keep an eye on President Joe Biden’s proposed tax plan. Estate taxes could see significant changes under Biden’s proposed tax plan. There are three proposed changes that we need to keep up with. 1. The elimination of the 1031 Exchange The 1031 Exchange allows for the deferment of capital gains tax when you sell a real estate asset and then purchase a like-kind real