IRS Proposes Rule on Like-Kind Exchanges
The Internal Revenue Service has released a draft regulation to define a like-kind property that is held for investment, trade or business purposes under Section 1031 of the tax code (governing like-kind exchanges). The IRS will accept comments through Aug. 11.
A like-kind exchange under U.S. tax law is a tax-deferred transaction that allows for the disposal of an asset and the acquisition of another similar asset without generating tax liability from the sale of the disposed asset.
Under the Tax Cuts and Jobs Act, Section 1031 was limited to real property. Existing statute and regulations do not define real property for purposes of Section 1031. Determination of real property is instead accomplished using definitions obtained elsewhere in the tax code.
In addition to defining real property, the regulation seeks to clarify how taxpayers should treat certain receipts of personal property that is incidental to the real property received.
NAHB will continue to analyze the proposed regulations and plans to submit comments after a careful review.
Latest from NAHBNow
Labor | Advocacy
Sep 25, 2026
NAHB Responds as Immigration Enforcement Keeps Legal Workers Off Job Sites
As the housing industry faces a severe labor shortage, NAHB members report that increased immigration enforcement and jobsite raids are heightening worker fears and further straining the construction labor pool.
Advocacy
Sep 24, 2026
NAHB Helps Kick Off Innovative Housing Showcase on the National Mall
NAHB Chairman Bill Owens was on the National Mall in Washington, D.C., yesterday to help open the 2026 Innovative Housing Showcase, an annual event presented by the U.S. Department of Housing and Urban Development (HUD).
Latest Economic News
Economics
Sep 25, 2026
State and Local Government Tax Revenue Grows
Total tax revenue collected by state and local governments was up 5.8% from a year ago in the second quarter, according to the Quarterly Summary of State and Local Government Tax Revenue published by the U.S. Census Bureau. This was the highest year-over-year growth since the third quarter of 2024 (7.2%).
Economics
Sep 24, 2026
New Home Sales Rise as Affordability Challenges Continue
New home sales improved in August, but the monthly gain masked continued weakness in the broader new-home market. Elevated mortgage rates and ongoing affordability challenges continue to constrain demand, with new home sales remaining below last year’s pace and year-to-date sales lower than in 2025.
Economics
Sep 24, 2026
Single-Family Detached Homes Still Dominate Among the 55+ Population
Adults ages 55 and older make up a large and growing share of the U.S. population and play an important role in the U.S. housing market. In 2024, around 103 million Americans were ages 55 or older, ranging from adults still in the labor force to retirees.