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AR NXT’s Regulatory Issues Forum on Nov. 14 featured a panel of tax experts—Greg Zagorski, senior homeownership policy specialist at the National Council of State Housing Agencies; David Antipoff, CPA and The Real Estate Accountant; and Ryan Ellis, president of the Center for a Free Economy and consultant at Akin. The session, titled “The Tax Talk: Housing, Deductions, and Future Tax Priorities,” examined how recent legislation shapes the housing market.

    The discussion centered on the One Big Beautiful Bill Act (OBBBA), signed into law this summer. Panelists highlighted its most industry‑relevant provisions: the Qualified Business Income (QBI) deduction, revised depreciation rules, and capital‑gain treatment. Ellis explained that OBBBA makes the QBI deduction—allowing eligible pass‑through entities and REITs to deduct up to 20% of qualified income—permanent, removing the 2025 expiration that previously loomed. Antipoff likened the deduction to a “20% off coupon” for business earnings, noting that while it is now permanent, future Congress could still alter it. He also emphasized that the bonus depreciation rule, which lets rental‑property owners accelerate depreciation of certain assets, remains in effect through 2030, creating a historically favorable environment for real‑estate investment.

    Antipoff further discussed federal passive‑loss rules that grant real‑estate professionals—defined by the IRS—deductions unavailable to ordinary taxpayers. Zagorski stressed the ongoing need for federal‑state cooperation in housing programs and the importance of preserving independent contractor status for agents.

    Andrea Sheridan, CRS of Keller Williams KC North, chaired the panel and underscored NAR’s pledge to advocate for tax policies that promote homeownership and investment nationwide. She affirmed that REALTORS® will continue to champion housing, opportunity, and community prosperity as Congress sets new priorities.

    The forum also featured Neal Rackleff, executive vice president and COO of the Houston Housing Authority, who highlighted the Low‑Income Housing Tax Credit (LIHTC) as the most effective tool for affordable‑housing development. Rackleff praised the public‑private partnership model of LIHTC and noted that OBBBA expands opportunities for mixed‑income projects and streamlines credit allocation for local authorities.

    Overall, the session provided real‑estate professionals with a clear view of how OBBBA’s tax provisions—especially the QBI deduction, bonus depreciation, and passive‑loss rules—create a favorable investment climate, while also outlining the role of tax credits like LIHTC in sustaining affordable housing.