1031 Exchange or Tax- Deferred Exchange
In a typical Internal Revenue Code (IRC) §1031 delayed exchange, commonly known as a 1031 exchange or tax-deferred exchange,
a taxpayer has 45 days from the date of sale of the relinquished property to identify potential replacement property.
This 45-day a window is known as the identification period.
Q. How long do you have to buy a property with a 1031 exchange?
A. From the time of closing on the relinquished property, the investor has 45 days to nominate potential replacement properties
and a total of 180 days from closing to acquire the replacement property. Identification requirements:
The investor must identify the replacement property prior to midnight on the 45th day.
Q. Can you do a 1031 exchange on primary residence? –
A. If you’ve established that your property is no longer your primary residence, but a rental property. Now you can do a 1031 exchange and defer
all of the capital gains from a sale of that residential property.