{"id":27295,"date":"2018-10-31T10:56:49","date_gmt":"2018-10-31T14:56:49","guid":{"rendered":"https:\/\/www.affiliated1031.com\/tax-filing-deadlines-affect-section-1031-eligibility\/"},"modified":"2018-10-31T10:56:49","modified_gmt":"2018-10-31T14:56:49","slug":"tax-filing-deadlines-affect-section-1031-eligibility","status":"publish","type":"post","link":"https:\/\/www.affiliated1031.com\/es\/tax-filing-deadlines-affect-section-1031-eligibility\/","title":{"rendered":"Tax Deadlines Affect Section 1031 Exchange Eligibility"},"content":{"rendered":"<div  class=\"tatsu-h6utwrns33edbgvc 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-h6utwrns4rbkto71\" ><div  class=\"tatsu-row \" ><div  class=\"tatsu-column  tatsu-bg-overlay tatsu-one-col tatsu-column-image-none tatsu-column-effect-none  tatsu-h6utwrns6c36kw96\"  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-h6utwrns7pec61u6  \"><div class=\"tatsu-text-inner tatsu-align-center  clearfix\" ><style>.tatsu-h6utwrns7pec61u6.tatsu-text-block-wrap .tatsu-text-inner{width: 100%;text-align: left;}<\/style>\n<table class=\"templateContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td id=\"templateHeader\" valign=\"top\">\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<div>\n<p><strong><em>THE PROBLEM<\/em><\/strong><strong>:<\/strong>\u00a0 For a\u00a0<a title=\"Link to What is a Section 1031 Exchage\" href=\"https:\/\/liberty1031.com\/what-is-a-1031-exchange\/\">Section 1031 Exchange<\/a>, where the relinquished property was transferred between October 19, 2016, and December 31, 2016, you might not have a full 180 days to close on your replacement property.\u00a0 The reason lies in Treasury Regulation Section 1.1031(k)-1(b)(ii), which interprets Section 1031 of the Internal Revenue Code, and reads as follows:<\/p>\n<p>\u201c(ii) The exchange period begins on the date the taxpayer transfers the relinquished property and ends at midnight on the\u00a0<strong>earlier<\/strong>\u00a0of the 180<sup>th<\/sup>\u00a0day thereafter\u00a0<strong>or<\/strong>\u00a0the due date (<strong>including extensions<\/strong>) for the taxpayer\u2019s return of the tax for the taxable year, in which\u00a0the transfer of the relinquished \u00a0property occurs.\u201d<\/p>\n<p><strong><em>SO WHAT DOES THIS MEAN?<\/em><\/strong>\u00a0The taxpayer will have the term of 180 days to complete its exchange\u2014<strong>BUT<\/strong>&#8211; if the taxpayer\u2019s tax filing deadline occurs first, the exchange period will instead expire on its tax filing deadline.\u00a0 In the majority of cases, the date most taxpayers have as their deadline to file their tax return is April 15th.\u00a0 See the Section 1031 Exchange Timeline <a href=\"https:\/\/liberty1031.com\/what-is-a-1031-exchange\/1031-exchange-timelines\/\">here.<\/a><\/p>\n<p><strong><em>THE SOLUTION TO THE PROBLEM:<\/em><\/strong>\u00a0 The taxpayer can file for an extension to file their tax return, which will result in the taxpayer having the full opportunity of closing on its replacement property for the full 180 day exchange period.<\/p>\n<p><strong><em>EXAMPLE<\/em>:\u00a0<\/strong>\u00a0Tom T. Taxpayer sells his investment property on November 4, 2018, and executes all of the paperwork to do a Section 1031 Tax Deferred Exchange. His 180<sup>th<\/sup>\u00a0day is May 1, 2019, but unless he files an extension for filing his personal return, his exchange period will expire on April 15, 2019.\u00a0 If Tom T. Taxpayer filed an extension for his personal return, he would have until May 1, 2019, to complete his Section 1031 exchange.<\/p>\n<p>Liberty 1031 always recommends that the taxpayer consult with their tax and\/or legal counsel on all matters dealing with the Internal Revenue Service.<\/p>\n<p>For more information on Section 1031 issues go to our website:\u00a0<a href=\"https:\/\/liberty1031.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">www.liberty1031.com<\/a>\u00a0\u00a0and visit our <a href=\"https:\/\/liberty1031.com\/liberty-1031-faqs\/\">1031 FAQ<\/a>, <a href=\"https:\/\/liberty1031.com\/category\/1031-exchange-basics\/\">Section 1031 Basics<\/a>, and <a href=\"https:\/\/liberty1031.com\/liberty-1031-exchange-case-studies\/\">Section 1031 Case Studies.<\/a>\u00a0 \u00a0We look forward to working with you on future Section 1031 exchanges&#8211; Steve<\/p>\n<p><strong>Enjoy 1031 Day!<\/strong><\/p>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td id=\"templateBody\" valign=\"top\">\n<table class=\"mcnImageBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnImageBlockOuter\">\n<tr>\n<td class=\"mcnImageBlockInner\" valign=\"top\">\n<table class=\"mcnImageContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnImageContent\" valign=\"top\"><img decoding=\"async\" class=\"mcnImage\" src=\"https:\/\/gallery.mailchimp.com\/bd4ba594a086aafb4f94fb074\/images\/ad903f34-740d-47f8-825f-0dab9069214b.gif\" alt=\"section 1031 exchange\" width=\"96\" align=\"middle\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u00a0<\/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-h6utwrns6c36kw96.tatsu-column{width: 100%;}.tatsu-h6utwrns6c36kw96.tatsu-column > .tatsu-column-inner > .tatsu-column-overlay{mix-blend-mode: normal;}.tatsu-h6utwrns6c36kw96 > .tatsu-column-inner > .tatsu-top-divider{z-index: 9999;}.tatsu-h6utwrns6c36kw96 > .tatsu-column-inner > .tatsu-bottom-divider{z-index: 9999;}.tatsu-h6utwrns6c36kw96 > .tatsu-column-inner > .tatsu-left-divider{z-index: 9999;}.tatsu-h6utwrns6c36kw96 > .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-h6utwrns33edbgvc .tatsu-section-pad{padding: 15px 0px 15px 0px;}.tatsu-h6utwrns33edbgvc > .tatsu-bottom-divider{z-index: 9999;}.tatsu-h6utwrns33edbgvc > .tatsu-top-divider{z-index: 9999;}.tatsu-h6utwrns33edbgvc .tatsu-section-overlay{mix-blend-mode: normal;}<\/style><\/div>\n","protected":false},"excerpt":{"rendered":"<p>THE PROBLEM:\u00a0 For a\u00a0Section 1031 Exchange, where the relinquished property was transferred between October 19, 2016, and December 31, 2016, you might not have a full 180 days to close on your replacement property.<\/p>\n<div><a href=\"https:\/\/www.affiliated1031.com\/es\/tax-filing-deadlines-affect-section-1031-eligibility\/\" class=\"exp-read-more exp-read-more-underlined\">Read More<\/a><\/div>\n","protected":false},"author":1,"featured_media":0,"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":[59,62,60,65],"class_list":["post-27295","post","type-post","status-publish","format-standard","hentry","category-1031-exchange-basics-es","tag-liberty-1031-es","tag-qualified-intermediary-es","tag-section-1031-exchange-es","tag-tax-filing-deadline-es"],"_links":{"self":[{"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/posts\/27295","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=27295"}],"version-history":[{"count":0,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/posts\/27295\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/media?parent=27295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/categories?post=27295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.affiliated1031.com\/es\/wp-json\/wp\/v2\/tags?post=27295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}