In December, Northern 1031 Vice President Michele Fitzpatrick spoke with host Rick Kaplan of the NEREJ Podcast. She spoke to the basics of 1031 exchange, including related requirements and restrictions, and different types of transactions that can be considered under the tax code.

Michele discussed possible ramifications of the current administration’s proposed changes to the step-up in basis provision. She said that the provision, and 1031 in general, should not be seen as an unfair tax sheltering strategy. Instead, it is a way for everyday property owners to increase personal wealth.