North Carolina S795 modifies the taxation of gains from 1031 exchanges.

North Carolina S795 modifies the taxation of gains from 1031 exchanges by allowing a deduction for non-like-kind property received in the exchange, up to the taxpayer's basis in the property sold. This change applies to taxable years beginning on or after January 1, 2026.

North Carolina S795 modifies the taxation of gains from 1031 exchanges.

North Carolina S795 modifies the taxation of gains from 1031 exchanges by allowing a deduction for non-like-kind property received in the exchange, up to the taxpayer's basis in the property sold. This change applies to taxable years beginning on or after January 1, 2026.