1031 exchange:
1031 Exchange Deadlines
There are two main deadlines that must be met to successfully defer taxes using IRC section 1031. Both deadlines start ticking on the date that the relinquished property is transferred by the exchanger. The exchanger must then identify, in writing, the replacement property(ies) within 45 days and acquire the replacement property(ies) within 180 days. Importantly the date of transfer is counted as day ZERO. For example: if property is transferred on November 16 then the 45th day ends on December 31 and the 180th day ends on May 15 of the next year. Remember these deadlines are “hard and fast”, even if your deadline falls on a holiday or weekend. We are here to maximize your tax savings on real estate investments. The sooner you call us the more effective we can be.
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