Exchange Deadlines
Identification Period:
The taxpayer must identify replacement property(ies) within 45
days from the date of the first relinquished property closing by
sending a written document signed by the taxpayer and delivered,
within the Identification Period, to any person involved in the
exchange. According to the Regulations, the replacement property
must include an unambiguous description. Replacement properties
may be listed by legal description, street address, or
distinguishable name.
Exchange Period:
The Exchange must be completed by the earlier of: 1) 180 days
from the date of the first relinquished property closing; or 2)
the due date of filing the Taxpayer’s federal income tax return,
together with all extensions, for the year the first
relinquished property was transferred.
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