{"id":27284,"date":"2020-01-01T18:00:50","date_gmt":"2020-01-01T23:00:50","guid":{"rendered":"https:\/\/www.affiliated1031.com\/counting-1031-exchange-timeline-days\/"},"modified":"2023-04-27T15:37:15","modified_gmt":"2023-04-27T19:37:15","slug":"counting-1031-exchange-timeline-days","status":"publish","type":"post","link":"https:\/\/www.affiliated1031.com\/es\/counting-1031-exchange-timeline-days\/","title":{"rendered":"Counting 1031 Exchange Timeline Days"},"content":{"rendered":"<div  class=\"tatsu-h6utel08mjbbp2oq tatsu-section  tatsu-bg-overlay   tatsu-clearfix\" data-title=\"\"  data-headerscheme=\"background--dark\"><div class='tatsu-section-pad clearfix' data-padding='{\"d\":\"15px 0px 15px 0px\"}' data-padding-top='15px'><div class=\"tatsu-row-wrap  tatsu-wrap tatsu-row-one-col tatsu-row-has-one-cols tatsu-medium-gutter tatsu-reg-cols  tatsu-clearfix tatsu-h6utel08ot1p4y0j\" ><div  class=\"tatsu-row \" ><div  class=\"tatsu-column  tatsu-bg-overlay tatsu-one-col tatsu-column-image-none tatsu-column-effect-none  tatsu-h6utel08qf7ohg6s\"  data-parallax-speed=\"0\" style=\"\"><div class=\"tatsu-column-inner \" ><div class=\"tatsu-column-pad-wrap\"><div class=\"tatsu-column-pad\" ><div  class=\"tatsu-module tatsu-text-block-wrap tatsu-h6utel08sidmmoem  \"><div class=\"tatsu-text-inner tatsu-align-center  clearfix\" ><style>.tatsu-h6utel08sidmmoem.tatsu-text-block-wrap .tatsu-text-inner{width: 100%;text-align: left;}<\/style>\n<p>Counting correct <a title=\"Link to Widipedia 1031 Exchange Definition\" href=\"https:\/\/en.wikipedia.org\/wiki\/Internal_Revenue_Code_section_1031\" target=\"_blank\" rel=\"noopener noreferrer\">1031 Exchange<\/a> timelines is critical to successful transactions.<\/p>\n<p>Today we discuss the issue of when the 45-day (for Identifying) and 180-day (last day to close on the purchase of replacement property) timelines in a Section 1031 exchange begin.<\/p>\n<h2>Timeline Requirements are Absolute!<\/h2>\n<p>It is important to note that the 1031 Exchange timeline requirements are absolute.\u00a0\u00a0 \u201cThere are no good faith or other exceptions to save the exchange if the timeline requirements are not met\u201d (Knight v. \u00a0C.I.R., T.C.Memo ).<\/p>\n<p>The first day for both the <a title=\"Link to 1031 Exchange Timelines page\" href=\"https:\/\/www.affiliated1031.com\/es\/1031-exchange-timeline\/\" target=\"_blank\" rel=\"noopener noreferrer\">45 day and 180 day<\/a> time periods begin on the <strong>day of the relinquished property closing.<\/strong><\/p>\n<h2>Example<\/h2>\n<p>Tom Taxpayer closes on the sale of his investment property (relinquished property) on Thursday, February 25, 2020.\u00a0 His 45<sup>th<\/sup> day for ID\u00a0 purposes is Saturday, April 9, 2020. (5 days in February, 31 days in March and 9 days in April).\u00a0 His 180<sup>th<\/sup> day for closing on the replacement property is August 22, 2020 (5 days in February, 31 days in March, 30 days in April, 31 days in May, 30 days in June, 31 days in July, and 22 days in August). <strong>Note &#8211; there are no extensions when the 1031 Exchange timeline date ends on a weekend or a holiday.\u00a0<\/strong>\u00a0Because there are no extensions given, Tom Taxpayer must make sure he identifies his property and gets that identification to his Qualified Intermediary (QI) in a timely fashion, because his 45<sup>th<\/sup> day lands on a Saturday.\u00a0 Delivering his Identification to his QI on Monday, April 9, 2020 (day 47) is too late and the <a title=\"Link to article \" href=\"https:\/\/www.affiliated1031.com\/es\/what-happens-when-a-1031-exchange-fails-to-complete\/\" target=\"_blank\" rel=\"noopener noreferrer\">1031 transaction is disallowed.<\/a><\/p>\n<p>It\u2019s tax season\u2014so here is one of my favorite quotes:\u00a0\u00a0 \u201cA Dutch woman explains her nation\u2019s flag to an American friend.\u00a0 \u201cIt symbolizes our taxes\u201d she jokes.\u00a0 \u201cWe get red when we talk about them, white when we get our bill, and blue after we pay.\u201d\u00a0 \u201cSame with us,\u201d says the American.\u00a0 \u201cOnly we see stars too.\u201d\u00a0 Don\u2019t let your clients see stars\u2014remind them of the opportunities of doing a Section 1031 exchange.<\/p>\n<p>We look forward to working with you on future 1031 exchanges.\u00a0 Should you have a question on a Section 1031 exchange, just call our toll-free number: 877.873.1031<\/p>\n<\/div><\/div><\/div><\/div><div class = \"tatsu-column-bg-image-wrap\"><div class = \"tatsu-column-bg-image tatsu-bg-lazyload\" data-src = \"\"><\/div><\/div><div class=\"tatsu-overlay tatsu-column-overlay tatsu-animate-none\" ><\/div><\/div><style>.tatsu-row > .tatsu-h6utel08qf7ohg6s.tatsu-column{width: 100%;}.tatsu-h6utel08qf7ohg6s.tatsu-column > .tatsu-column-inner > .tatsu-column-overlay{mix-blend-mode: normal;}.tatsu-h6utel08qf7ohg6s > .tatsu-column-inner > .tatsu-top-divider{z-index: 9999;}.tatsu-h6utel08qf7ohg6s > .tatsu-column-inner > .tatsu-bottom-divider{z-index: 9999;}.tatsu-h6utel08qf7ohg6s > .tatsu-column-inner > .tatsu-left-divider{z-index: 9999;}.tatsu-h6utel08qf7ohg6s > .tatsu-column-inner > .tatsu-right-divider{z-index: 9999;}<\/style><\/div><\/div><\/div><\/div><div class=\"tatsu-section-background-wrap\"><div class = \"tatsu-section-background tatsu-bg-lazyload\" data-src = \"\"><\/div><\/div><div class=\"tatsu-overlay tatsu-section-overlay\"><\/div><style>.tatsu-h6utel08mjbbp2oq .tatsu-section-pad{padding: 15px 0px 15px 0px;}.tatsu-h6utel08mjbbp2oq > .tatsu-bottom-divider{z-index: 9999;}.tatsu-h6utel08mjbbp2oq > .tatsu-top-divider{z-index: 9999;}.tatsu-h6utel08mjbbp2oq .tatsu-section-overlay{mix-blend-mode: normal;}<\/style><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Counting correct 1031 Exchange timelines is critical to successful transactions.<\/p>\n<p>Today we discuss the issue of when the 45-day (for Identifying) and 180-day (last day to close on the purchase of replacement property) timelines in a Section 1031 exchange begin.<\/p>\n<div><a href=\"https:\/\/www.affiliated1031.com\/es\/counting-1031-exchange-timeline-days\/\" class=\"exp-read-more exp-read-more-underlined\">Read More<\/a><\/div>\n","protected":false},"author":1,"featured_media":26956,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[57],"tags":[],"class_list":["post-27284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1031-exchange-basics-es"],"_links":{"self":[{"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/posts\/27284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/comments?post=27284"}],"version-history":[{"count":2,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/posts\/27284\/revisions"}],"predecessor-version":[{"id":27959,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/posts\/27284\/revisions\/27959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/media\/26956"}],"wp:attachment":[{"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/media?parent=27284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/categories?post=27284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/tags?post=27284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}