Current tax law permits an investor in real estate to defer capital gains taxes on exchanging an investment property for another property of like kind that is also held for investment, so long as the taxpayer satisfies numerous requirements and consummates a purchase of replacement property within 180 days of the transfer of the relinquished property.
Analysis of Camp Tax Reform Draft
On Wednesday, Feb. 26, 2014, House Ways and Means Committee Chairman Dave Camp (R-MI) released his long-awaited discussion draft for comprehensive reform of the tax code.
