Illinois REALTORS® Dan Wagner, treasurer nominee for the association, was on a panel on Tuesday of the Institute of Real Estate Management which explored the necessity of the 1031 Like Kind Exchange.
Wagner, who was named Illinois REALTORS® treasurer nominee last week during the association’s Capitol Conference, is the president of the Chicago Association of REALTORS®. As senior vice president for government relations for the Inland Real Estate Group of Companies, Wagner often speaks about how the tax code provision helps individuals and companies re-invest and produce more growth.
The 1031 Exchange rule allows property owners to defer capital gains taxes as they roll over investments provided they are plowed back into a similar investment within a set time period.
Wagner was joined on the panel held in Washington, D.C., by moderator Megan Booth with the National Association of REALTORS®, and panelists Ryan McCormick, with the Real Estate Roundtable, and Don Wilkerson with Gaston and Wilkerson Management Group.