1031 Back in the News with the Release of the FY 2023 Budget - REDUCTION OF BENEFITS
At the end of March, President Biden released his FY2023 budget, and it again proposes a $500,000 cap on deferred gain from like-kind exchanges. The following information about like-kind exchanges is in the "General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals." It is the same information included in last year's budget and the full details can be accessed here (General-Explanations-FY2023.pdf): REPEAL DEFERRAL OF GAIN FROM LIKE-KIND EXCHANGES Curren