The I.R.S. does not require
that the exchange happen simultaneously, and,
indeed, from a practical standpoint, that is often
difficult to arrange. You have 45 days from the
date of closing on your property to identify your
replacement property or properties. (This
45 day rule is satisfied if you actually receive
your replacement property before the end of the
45 days.) From the date of closing, you have
the earlier of 180 days after the transfer of
your property or the due date of your federal
income tax return (including extensions)
to close on the property or properties you identified.
| Start |
45days |
180 days |
| Sale of relinquished property |
Last day to identify Replacement
Property |
Last day to close on Replacement
Property |
|
|
