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45 days: 1031 Exchanges - Calculating Capital Gain - 04/11/08 12:40 AM
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45 days: 1031 Exchanges -- 45 Day Identification Period - 02/02/08 07:58 PM
SECTION 1.1031(k)-1
Section 1.1031(k)-1: Treatment of Deferred Exchanges states that "the identification period begins on the date the taxpayer transfers relinquished property and ends at midnight on the 45th day thereafter."  Later in this subsection, the manner of identifying replacement property is specifically stated as: "Replacement property is identified only if it is designated as replacement property in a written document signed by the taxpayer and hand delivered, telecopied, or otherwise sent before the end of the identification period to either - (i) The person obligated to transfer the replacement property to the taxpayer (regardless of whether that person is a disqualified … (0 comments)

45 days: 1031 Exchanges -- Identification Rules - 02/02/08 07:52 PM
IDENTIFICATION RULES
The identification period in a delayed exchange begins on the date the Exchanger transfers the relinquished property and ends at midnight on the 45th calendar day thereafter. To qualify for a §1031 tax deferred exchange, the tax code requires identifying replacement property:
· In a written document signed by the Exchanger;
· Hand delivered, mailed, telecopied, or otherwise sent;
· Before the end of the identification period to;
· Either the person obligated to transfer the replacement property to the Exchanger (generally the "Qualified Intermediary") or any other person involved in the exchange other than the taxpayer or a disqualified person.
The replacement property must be … (0 comments)

 

Lisa Lambert, Esq. (1031 Exchange Expert)

Bakersfield, CA

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