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
Safety
Aug 11, 2026
Jobsite Safety Depends on Engaged Workers Using a Defined Plan
A key duty of owners and managers of residential construction firms is to create an environment where everyone is empowered to honestly discuss jobsite safety.
Housing Finance
Aug 10, 2026
Bank Regulators Propose Changes to Community Reinvestment Act Rules
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have proposed targeted revisions to their Community Reinvestment Act (CRA) regulations.
Latest Economic News
Economics
Aug 11, 2026
Existing Home Sales Fall in July
Existing home sales continued to slow in July as record-high home prices and elevated mortgage rates weighed on buyers. Mortgage rates resumed an upward trend after the ceasefire ended in early July.
Economics
Aug 11, 2026
Weaker Demand for Residential Mortgages in Second Quarter
Demand for all types of residential mortgages was weaker, while lending standards for most were essentially unchanged in the second quarter of 2026, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS).
Economics
Aug 10, 2026
Wage Growth for Residential Building Workers Continues to Cool
Wage growth for residential building workers continued to lose momentum in the second quarter of 2026, reflecting softer housing construction activity and weaker labor demand. According to the latest data from the U.S. Bureau of Labor Statistics, both nominal and inflation-adjusted wages have weakened further, extending the cooling trend that emerged after the strong wage gains of the post-pandemic period.