Tool
1031 Exchange Deadline Tracker
Missing a 1031 deadline disqualifies the entire exchange. Enter your closing date to see every critical date, track days remaining, and print the timeline for your file.
Relinquished property close date
This is the date your sale of the relinquished property closes — not the contract date or listing date.
Identification Deadline
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You must identify potential replacement properties in writing to your Qualified Intermediary by midnight on this date.
Exchange Completion Deadline
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You must close on all replacement properties by this date. Extensions are generally not available — this deadline is fixed by statute.
Identification Rules
You must comply with at least one of these three identification rules:
3-Property Rule Most common
Identify up to 3 properties of any value, regardless of what you actually acquire.
200% Rule
Identify any number of properties as long as their combined fair market value doesn't exceed 200% of the relinquished property's value.
95% Rule
Identify any number of properties if you actually acquire at least 95% of the total fair market value of all identified properties.
Common Mistakes
- Missing the 45-day ID window — No extensions. Once the window closes, the exchange is disqualified.
- Receiving exchange funds directly — All proceeds must flow through a Qualified Intermediary (QI). Never touch the money.
- Acquiring non-like-kind property — U.S. real property for U.S. real property only. Foreign-to-domestic exchanges don't qualify.
- Undervaluing replacement property — Boot (cash or debt relief) is taxable. Replacement property must equal or exceed the relinquished property's value and debt.
- QI insolvency risk — Exchange funds held by a QI are not FDIC insured. Vet your QI carefully before closing.
- Not identifying in the right format — Written identification must clearly describe properties by legal address or description and be signed and delivered to the QI by midnight on day 45.
Boot & Tax Exposure
Boot is the taxable portion of an exchange. It arises when:
Cash boot
You receive cash at closing (net sale proceeds minus QI exchange funds).
Mortgage boot
The debt on your replacement property is less than the debt on the relinquished property.
Down-trade
You acquire replacement property with a lower fair market value than your sale price.
To fully defer all gain: replacement property value ≥ sale price; new debt + new equity ≥ old debt + old equity.
Key Definitions
- Like-Kind Property
- For real estate, nearly any U.S. real property qualifies — raw land, commercial, residential rental, industrial. Your primary residence does not qualify.
- Qualified Intermediary (QI)
- A third-party facilitator who holds exchange funds and coordinates the transaction. Required by IRS rules. Cannot be a relative, attorney, or CPA who has served you within the past 2 years.
- Relinquished Property
- The property you sell. The 45 and 180-day clocks start on the close date.
- Replacement Property
- The property (or properties) you acquire to complete the exchange.
- Reverse Exchange
- Buying the replacement property before selling the relinquished property. Requires an Exchange Accommodation Titleholder (EAT) and is more complex. Same 45/180-day windows apply.
Frequently Asked Questions
When does the 45-day identification period start in a 1031 exchange?
The 45-day identification period starts on the closing date of the relinquished property sale — not the contract date, the recording date, or when funds are transferred to the Qualified Intermediary. The deadline is midnight of the 45th calendar day, including weekends and holidays. There are no extensions.
Can you extend the 1031 exchange deadlines?
Generally no. The 45-day identification and 180-day exchange completion deadlines are statutory under IRC §1031 and cannot be extended except in presidentially declared federal disaster areas. Missing the deadline disqualifies the entire exchange — there are no exceptions for delays caused by lenders, title companies, or other parties.
How many properties can you identify in a 1031 exchange?
Under the 3-Property Rule (most common), you can identify up to 3 properties regardless of value. Under the 200% Rule, you can identify any number of properties as long as their combined value doesn't exceed 200% of the relinquished property value. Under the 95% Rule, you can identify any number as long as you actually acquire at least 95% of the total identified value.
What happens if you miss the 45-day identification deadline in a 1031 exchange?
If you fail to identify replacement property within 45 days, the exchange is disqualified and all deferred gain becomes immediately taxable in the year of the relinquished property sale. The Qualified Intermediary must return the exchange funds to you. There is no cure or partial exchange available — the entire gain is recognized.
Deadline information is for educational purposes only. 1031 exchange rules are governed by IRC §1031 and related Treasury Regulations. Always confirm critical dates with your Qualified Intermediary and tax counsel before closing.