Biden proposal would close real-estate tax loophole

SAN DIEGO (KUSI) – President Biden’s new economic plan would eliminate a tax break for many real estate owners that has allowed them to defer paying capital gains on property sales.

Closing that tax loophole is one of the ways he is planning to pay for his $1.9 trillion spending package to create new social programs.

Jim Bottrell, Owner at Jim Bottrell Real Estate Team, joined KUSI’s Ginger Jeffries on Good Evening San Diego to discuss what the tax loophole could do to those who already own property and are looking to gain more.

Categories: KUSI, National & International News