1031 Exchange Deadlines Relaxed

 

Pursuant to guidance published by the IRS on Thursday, April 9, 2020, certain 1031 Exchange deadlines have been modified.

Who Qualifies?

  • Anyone that sold relinquished property and their 45-day deadline falls between April 1, 2020 and July 15, 2020.
  • Anyone that sold relinquished property and their 180-day deadline falls between April 1, 2020 and July 15, 2020.

What is the Extension?

  • The 45-day deadline has been extended to July 15, 2020.
  • The 180-day deadline has been extended to July 15, 2020.

Unfortunately, there are still some unanswered questions regarding 1031 Exchange deadlines. We will continue to provide clarification and updates as we receive them.

Please know that our team is committed to assisting our clients and colleagues in navigating through these unprecedented circumstances. If you have questions or need assistance, please do not hesitate to contact us.

 

 

Anna-Marie Forshee is an attorney at Moorhead Real Estate Law Group.

Her primary focus is real estate and condominium and community association law.