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Introduction to IRC Section 1031 Tax Alert

The National Council of Exchangors is opposed to any proposals to alter portions of Section 1031 of the Internal Revenue Code. We understand and join with all Americans who want to eliminate our huge federal debt. However, we know that the alteration of Section 1031 will not help achieve that goal.

These web pages are designed to help you understand the issue.

The last time Congress considered alterations to Section 1031 both the Senate Committee on Finance and the House Committee on Ways and Means refused to change the scope of "like-kind' in their respective committees. The bill that went to the joint committee and ultimately to the floor of both houses of Congress did not change the definition of "like-kind" regarding real property. NCE would like to think that the substantial input it gave to both committees played a significant role in those decisions.

Please continue your study of the following pages as they are a good learning excercise about the political and tax aspects of Section 1031 and how investors may choose to approach the issue.