Impose Capital Gain Tax on Like-Kind Exchanges

Current law allows a taxpayer to avoid taxation of gain on a disposition of real estate to the extent the taxpayer is willing to acquire other real estate as a replacement. The proposal would repeal section 1031 regarding gain and require an exchange broker to file an information return showing the amount realized by the taxpayer. Valuation is not a problem when the purchaser gives the cash price to an…
Andrews & Kurth Centennial Professor of Law, University of Texas at Austin - School of Law, USA
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