45/180 DAY CALCULATOR
How many days do I have?
Timing rules are strict in a 1031 Exchange. Use our Calculator to help keep you on track.
Closing Date :
Your 45 day period ends midnight of :
Your 180 day period ends midnight of :
Notice to Exchangor closing Relinquished Property in mid-October of the current year: Please remember to file for an extension should your income tax due date occur prior to the 180th Day deadline stated above. Otherwise, Exchangor must close and complete the exchange prior to or on the income tax due date.
Three Rules to Identify Replacement Property
Replacement Property must be identified with the Qualified Intermediary within 45 days of the closing of the Relinquished Property. When identifying Replacement Property one of the following rules must be followed:
Three-Property Rule: Up to three properties of any value may be identified. The Exchangor can purchase one, or all three properties.
Two Hundred Percent Rule: Any number of properties can be identified so long as the aggregate fair market value of all properties identified do not exceed 200% of the sale price of the Relinquished Property.
Ninety Five Percent Rule: If both above rules are exceeded in the number and value of the properties identified, it will be considered valid if at the end of the exchange, the Exchangor has succeeded in acquiring properties worth an aggregate of at least 95% of the fair market value of all of the properties originally identified. For example, you may identify $1,000,000 in Replacement Property and acquire only $950,000 in Replacement Property.
Notice to Exchangor
- You may identify the property in any state of the United States. Your identification must be specific as to what you intend to purchase.
- If you intend to purchase only a percentage interest, that specific percentage or dollar amount must be noted on the identification letter.
- If you intend to construct improvements, you must describe specifically what improvements you intend to make by your time of purchase, in addition to listing the address or legal description of the property to be improved. Please contact us if you intend to make improvements prior to submitting your identification letter as there are restrictions as to when improvements can be made.
- If you intend to acquire property from a related person, please contact us as there are restrictions as to related party transactions.
- If your Relinquished Property closed in mid-October of the current year, please remember to file for an extension should your income tax due date occur prior to the 180-day deadline stated in your notice. Otherwise, Exchangor must close the exchange replacement property prior to or on the income tax due date.
- If you identify property that is not revoked by your 45-day and not purchased by day 180-day, Exchange Solutions must hold your funds until day 181.
- PLEASE NOTE: Limitation on Receiving Exchange Equity. Exchangor has no right to receive, pledge, borrow or otherwise receive the economic benefit of all or any portion of the Exchange Equity, including the accrued interest earned thereon, on demand or otherwise, except as follows: (a) after the end of the 45-day identification period defined in Treasury Regulation Section 1.1031(k)-1(b) (2) (“Identification Period”), if the Exchangor has not identified any Replacement Property within the Identification Period; or (b) after receipt by Exchangor of all identified Replacement Property to which Exchangor is entitled under the Exchange Agreement; or (c) after the end of the exchange period defined in Treasury Regulation Section 1.1031(k)-1(b)(2) (“Exchange Period”).
