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
Membership | IBS | Advocacy
Sep 23, 2026
Chairman's Update: Top Events for Housing
2026 NAHB Chairman Bill Owens provides updates on key events for the residential construction industry, including why members should get out to vote this November and why now is a great time to register for the International Builders' Show.
Legal | Association Management
Sep 22, 2026
Indiana Supreme Court to Decide If an Association Can Sue on Behalf of Its Members
The legal doctrine of "associational standing" continues to face scrutiny across the country, and the latest challenge is now before the Indiana Supreme Court.
Latest Economic News
Economics
Sep 18, 2026
State-Level Employment Situation: August 2026
State labor markets showed mixed results in August, with nonfarm payroll employment increasing in a majority of states. At the same time, construction employment posted a net gain nationally, although employment trends varied across states. The unemployment rate also remained relatively low in several states, while D.C. continued to record the nation’s highest rate.
Economics
Sep 17, 2026
Single-Family Starts Rebound but Market Challenges Persist
Single-family housing starts rebounded in August, but production remains down 4.7% year to date as builders contend with rising construction costs, lot and labor shortages, and economic uncertainty.
Economics
Sep 16, 2026
With Inflation Uptick, Fed Hikes and Signals More to Come
The Federal Reserve raised the federal funds rate by 25 basis points at the conclusion of its September policy meeting, bringing the target range to 3.75% to 4%.