Tax Reform

Overview

On December 22, 2017, President Trump signed the “Tax Cuts and Jobs Act".

All individual provisions of the measure are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted. The provisions do not affect tax filings for 2017 unless noted. To read NAR’s analysis of the bill’s provisions impacting real estate, please go to "The Tax Cuts and Jobs Act - What it Means for Homeowners and Real Estate Professionals.

NAR will be providing ongoing updates and guidance to members in the coming weeks, as well as working with Congress and the Administration to address additional concerns through future legislation and rulemaking. Lawmakers have already signaled a desire to fine tune elements of The Tax Cuts and Jobs Act as well as address additional tax provisions not included in this legislation in 2018, and REALTORS® will need to continue to be engaged in the process.

NAR worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members over several years.

Political Advocacy

Current Legislation/Regulation

H.R. 1 - Tax Cuts and Jobs Act (Public Law No: 115-97)


In-Depth

Letters to Congress 
Congressional testimonies 
NAR Federal Issues Tracker


Legislative Contact(s):

Evan Liddiard
eliddiard@realtors.org
202-383-1083

Jamie Gregory
jgregory@realtors.org
202-383-1027

Regulatory Contact(s):

Evan Liddiard
eliddiard@realtors.org
202-383-1083


On December 22, 2017, President Trump signed the “Tax Cuts and Jobs Act”.  The U.S. House and Senate approved the conference agreement of the “Tax Cuts and Jobs Act” earlier in the week.

All individual provisions of the measure are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted. The provisions do not affect tax filings for 2017 unless noted.

To read NAR’s analysis of the bill’s provisions impacting real estate, please go to "The Tax Cuts and Jobs Act - What it Means for Homeowners and Real Estate Professionals."

NAR will be providing ongoing updates and guidance to members in the coming weeks, as well as working with Congress and the Administration to address additional concerns through future legislation and rulemaking. Lawmakers have already signaled a desire to fine tune elements of The Tax Cuts and Jobs Act as well as address additional tax provisions not included in this legislation in 2018, and REALTORS® will need to continue to be engaged in the process.

NAR Committee:

Federal Taxation Committee

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