During the
tax debate, the National Association of REALTORS ® was able to secure substantial wins for residential and commercial real estate, including retention of the rules for the exclusion of
capital gain on the sale of a principal residence and preservation of 1031 like - kind exchanges for commercial property owners.
This means limitations
on key real estate provisions of the
tax code will be
debated, including the mortgage - interest deduction, deductibility of property
taxes, like - kind (1031) exchanges, and the
capital gains exclusion.