The other, abolishing a little-known tax benefit accorded to investors, could upset the real estate continuum up and down the line. Giving a tax credit to renters who want to buy their first houses is a noble, but not a new, idea. In the ‘70s, the tax credit was $2,000, which looks like chicken feed compared to the $15,000 credit President Biden has talked about. In ‘08, the tax credit was a maximum of $7,500. Realty interests maintain the exchange rules are among the most important of all tax provisions for investors and real estate professionals.