Now you know your dates. We can help you identify your replacement property before the 45-day deadline.
The 45-day identification deadline
You must identify your potential like-kind replacement properties to your qualified intermediary no later than midnight on the 45th calendar day after the sale of your relinquished property closes.
If your sale closed on October 31, day one is November 1 and your deadline falls on December 15.
These are calendar days, not business days. If the 45th day lands on a Saturday, Sunday or legal holiday, the deadline is not extended.
The 180-day exchange period
You must complete the exchange — including taking title to every replacement property you intend to acquire — by the earlier of:
midnight on the 180th calendar day after your relinquished property sale closes, or
the due date of your federal income tax return for that tax year, including extensions.
The second one only matters if your first relinquished property closed between October 17 and December 31, which would put day 180 after April 15.
In that case you may need to file for an extension to preserve the full 180 days. Discuss it with your tax professional — NexTrend Securities is not a tax advisor and does not provide tax advice.
We can help you identify your 1031 DST replacement property.
