ConnectedInvestors.com, the world’s largest social network for real estate investors (join us!), has summarized findings from the National Association of Realtors on how Donald Trump’s proposed $1.5-trillion tax reform will impact real estate investors.
Highlights include:
- Caps mortgage interest deduction at $500,000 for new mortgages
- Increases standard deduction
- Limits exemption on Capital Gains Tax from sale of primary residence
- Eliminates:
- Deduction for state and local income and sales taxes
- Mortgage Interest Deduction for second homes
- Deduction for moving expenses
- Deduction for personal casualty losses
