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 as well as working with Congress and the Administration to address additional concerns through future legislation and rulemaking. REALTORS® will need to continue to be engaged in the process.
Federal Taxation Committee
H.R. 1 - Tax Cuts and Jobs Act (Public Law No: 115-97)
Letters to Congress
NAR Federal Issues Tracker