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
Jun 05, 2026
NAHB Completes Fall Prevention Training Pilot Program at 20 HBAs Across U.S.NAHB, the Job-Site Safety Institute (JSI), and the National Housing Endowment (NHE) are proud to announce the successful completion of the Fall Prevention Training Pilot Program.
Economics
Jun 04, 2026
U.S. House Price Appreciation Slows from Rapid Pandemic-era PaceHigher mortgage rates, persistent affordability challenges and softer demand weighed on price growth nationally. Local market conditions varied, with some states and metro areas seeing solid gains while others saw declining or flattening house prices.
Latest Economic News
Economics
Jun 05, 2026
U.S. Labor Market Remains Resilient in MayDespite rising inflation and ongoing economic uncertainty, the U.S. labor market remained resilient in May. Nonfarm payrolls increased for the third consecutive month, and the unemployment rate held steady at 4.3%.
Economics
Jun 04, 2026
Mortgage Rates Increase Further as Inflation Remains ElevatedMortgage rates continued to increase in May as inflation accelerated. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.41% in May, up 7 basis points (bps) over April.
Economics
Jun 04, 2026
Highest Paid Occupations in Construction in 2025The median wage of payroll workers in construction was $61,370 in 2025, with the top 25% earning at least $83,480. In comparison, the U.S. median annual wage was $50,980, while workers in the top quartile (the highest paid 25%) earned at least $80,520.