ALTA Joins 30 Organizations in Support of 1031 Exchanges
ALTA joined 30 other organizations in letters to Congressional leaders and U.S. Secretary of the Treasury Janet Yellen explaining the importance of 1031 like-kind exchanges.
The letter outlines how 1031 exchanges support jobs and investment, healthy real estate markets, and important social and environmental objectives, such as the preservation of family-owned farms and ranches and the conservation of land for the benefit of the public and future generations. Like-kind exchanges under section 1031 of the tax code allow businesses to grow organically, with less unsustainable debt, by reinvesting gains on a tax-deferred basis in new and productive assets. In this way, like-kind exchanges create a ladder of economic opportunity for minority-, veteran- and women-owned businesses and cash-poor entrepreneurs that may lack access to traditional sources of financing.