Posted 7/1/2020 14:56 (#8347812 - in reply to #8344635) Subject: Eliminate 1031
Northern Illinois
I could see the argument for eliminating the 1031 exchange. If someone has an asset and wants to keep it or pass it on that should be OK. If someone sells the asset taxing it is a different situation than leaving it someone. imo.
A likely first step is keeping stepped up basis but lowering the estate tax threshold back to 5 million.
I guess stepped up basis is considered a loophole
