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Level 4
April 12, 2022

1031 Exchange time restrictions

  • April 12, 2022
  • 2 replies
  • 11 views

I am searching for the requirements to apply for an extension of time for an exchange. 

Everything was done correctly, notice (45 Days), offer on property with closing within the 180 days.

But the deal fell through and they had to start their search again, as with the market as it was(is), their other options had been purchased. 

Is my client out of luck here. 

Thanks 

Judy

This topic has been closed for replies.

2 replies

sjrcpa
Level 15
April 12, 2022

Yes they are SOL.

The more I know the more I don’t know.
qbteachmt
Level 15
April 12, 2022

You previously asked here:

https://proconnect.intuit.com/community/tax-talk/discussion/1031-exchange-are-there-any-exceptions-to-the-180-day-purchase/00/218228

No need to keep asking or starting it again as a new topic. If you have more info, you can reply to your own topic to update it.

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