There are a lot of numbers, rules, and regulations to keep track of in a 1031 exchange. In this article, we are going to offer an easy method for calculating your deadlines in a like-kind exchange.
Like-Kind Exchange Deadlines
There are two extremely important deadlines to keep in the back of your head when conducting a 1031 exchange. They are:
180 Days. This is the total amount of time you have to finish your exchange – from the time you sell your relinquished property, to the time you close on your replacement property.
45 Days. The first 45 days of your 180 day exchange period are specifically set aside as your identification period. This is the time you have to identify in writing all the replacement properties that you want to exchange into.
Failure to meet these deadlines can result in a failed 1031 exchange.
1031 Exchange Calculator
For the convenience of our clients, we have put together a simple and free online calculator that will help you determine your 1031 exchange deadlines.
Click here to use the free 1031 exchange calculator.
Commercial Real Estate Exchanges
If you have any questions about the deadlines surrounding your 1031 exchange, don’t hesitate to reach out to the like-kind exchange professionals at CPEC1031, LLC. Our qualified intermediaries have been helping taxpayers in Minnesota and across the country with their like-kind exchanges of real property for decades. Working with a qualified intermediary can significantly simplify the 1031 exchange process for you. We will guide you, advise you, and prepare all your 1031 exchange documents to ensure you are ready when it comes time to close. Our primary office is locate in Minneapolis – but we work with clients throughout the Twin Cities, greater Minnesota, the Midwest, and all 50 states.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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