Spectrus Real Estate – 1031 Timeline
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- Identification Period
- Within 45 days of selling the relinquished property you must identify suitable replacement properties. This 45 day rule is very strict and is not extended should the 45th day fall on a Saturday, Sunday, or legal holiday.
- Exchange Period
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The replacement property must be received by the taxpayer within the "exchange period," which
ends within the earlier of 180 days after the date on which the taxpayer transfers the property
relinquished, or the due date for the taxpayer tax return for the taxable year in which the transfer
of the relinquished property occurs. This 180-day rule is very strict and is not extended if the
180th day should happen to fall on a Saturday, Sunday or legal holiday.
- 45/180 Day Calculator
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This calculator can help you determine the dates of your exchange periods based on your identification period.
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