California Revenue and Taxation Code

§ 18031.5

RTC § 18031.5 Effective Oct 1, 2025Div. 2 · Part 10 · Ch. 13

Statute text

(a)The amendments made by Section 13303(a) and (b) of the Tax Cuts and Jobs Act, 2017 (Public Law 115-97) to Section 1031 of the Internal Revenue Code, relating to exchange of real property held for productive use or investment, shall apply, except as otherwise provided in this section.

(b)(1) (A) In the case of a taxpayer who is a head of household, a surviving spouse, or spouses filing a joint return, this section shall only apply to those taxpayers with adjusted gross income, as defined in Section 17072, of five hundred thousand dollars ($500,000) or more for the taxable year in which the exchange begins.

(B)In the case of a taxpayer filing an individual return, this section shall only apply to those taxpayers with adjusted gross income, as defined in Section 17072, of two hundred fifty thousand dollars ($250,000) or more for the taxable year in which the exchange begins.

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 58. (SB 711) Effective October 1, 2025.