Key Provisions for Real Estate Signed Into Law
Gwen Walters
The sweeping tax reform signed into law on July 4 includes significant wins for real estate professionals.
The bill includes NAR’s five key priorities:
- Permanent extension of individual tax rates that went into effect in 2017
- Permanent qualified business income deduction (Section 199A)
- Quadrupling of the state and local tax (SALT) deduction cap for five years beginning with the 2025 tax year
- Protection for business SALT deductions and 1031 like-kind exchanges
- Permanent extension of the mortgage interest deduction
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