1031 Exchange Blog
This whiteboard video answers the question: "can you revoke identified property in a 1031 exchange?" Check out more 1031 whiteboard videos here.
Start Your 1031 Exchange: If you have questions about revoking identified properties, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
© 2016 Copyright Jeffrey R. Peterson All Rights Reserved
Sometimes people want to know if their replacement property identification can be modified after the 45th day but before they received the replacement property.
The answer to the question is if you want to change your ID after midnight of the 45th day you are SOL that is Statutorily Out of Luck because the code and the regulations don't permit you to change your identification after the 45th day. However, before the 45th day if you want to remove your identification, or amended, or completely replace it you can do that right up until midnight of the 45th day by sending a new identification or a new written revocation that's signed by the taxpayer and sent by midnight of the 45th day.
Start Your 1031 Exchange: If you have questions about 1031 timelines, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
© 2016 Copyright Jeffrey R. Peterson All Rights Reserved
