The Rising Influence of Rising Affluence

[10nisman]

OT

How can you say it won't effect the majority of Americans? The way I understand this is it would force you to settle up and pay capital gains each time you sell you home. (it doesn't spell out if the one-time exemption is retained or if there are income limits)

Her website specifically states "Like-Kind exchanges" (i.e., Section 1031) vs. the $250K/$500K home sales tax exclusion which falls under Section 121.

That is why Clinton will go beyond the loopholes identified above to reform capital taxation, and explore additional measures to prevent high-income taxpayers from misclassifying income as capital gains or avoiding paying tax on some income at all. For example, she would limit the tax benefits of “like-kind exchanges,” which prevents capital gains taxation on certain sales.

Clinton is not looking to adversely impact middle class Americans and thus is not making any changes to the $250K/$500K home sales tax exclusion under Section 121.

IMHO, people need to relax and stop jumping the gun on her policies.

10nis