The TJCA (Tax Cuts and Jobs Act) signed into law in December 2017 has changed the tax treatment for holding real estate investment trusts (REITs). While we still await full clarity of some issues, our initial analysis and that of our outside tax experts align with the brief summary provided in Brian Schultz’s recent Voices piece in Financial Planning, "Why planners should reconsider REITs for HNW clients."
Of course, every tax situation is different, and only in conjunction with your tax advisor can you determine what the impact might be for you. However, the tax changes do indicate that the tax rates used for REIT holdings are one of a number of variables that should be revisited in any asset location analysis.
We continue to explore with clients the breakeven point and asset structures for investors seeking real estate exposure in portfolios and will continue to pass on updates as they become available.
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