Trump Bails Himself Out? Overlooked Provision In Stimulus Bill Affords $170 Billion In Real Estate Tax Breaks | WHAT REALLY HAPPENED

Trump Bails Himself Out? Overlooked Provision In Stimulus Bill Affords $170 Billion In Real Estate Tax Breaks

The recently signed $2 trillion in fiscal stimulus includes a little known provision for the country's largest real estate investors.

On the overlooked page 203 of the recently passed 880 page bill, there's a provision that allows for wealthy investors to use losses generated by real estate to minimize taxes on profits from other things, like capital gains. Over 10 years, the cost of the change is slated to be $170 billion, according to the New York Times.

Under the current tax code, when real estate investors generate losses from writing down the value of their properties, they can use some of those losses to offset other taxes. But the 2017 tax cut package limited some of those losses to shelter $500,000 of a married couple's non-business income. Leftover losses got rolled out to subsequent years. The new bill lifts the $500,000 cap.

Does anyone happen to know any wealthy real estate investors this could benefit?

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