Should I Wait Until Next Year to do my 1031 Exchange?

Timing is essential in any 1031 exchange. Some people wonder when they should conduct their exchange. In this article, we are going to discuss whether or not you should wait until next year to conduct a 1031 exchange.

Timing Considerations

There are many timing-related considerations to keep in mind when conducting a 1031 exchange. First, it’s important to remember your 1031 exchange time limits. You only have 180 days from the start of your exchange to the finish line. The first 45 days of that time period is your identification period. You can start your 1031 exchange whenever you’d like, but bear in mind that these time deadlines are hard and fast.

Tax Reporting Considerations

There are some tax reporting considerations to weigh if you’re debating whether to do your exchange this year or to wait until the following year. When your exchange finishes will have an impact on when and how your report the exchange to the IRS. It’s important to work closely with your CPA or tax advisor on this matter to ensure everything goes smoothly.

Contact CPEC1031, LLC Today

Contact CPEC1031, LLC today to get your 1031 exchange off the ground! If you’ve got investment real estate that you’re looking to sell but want to avoid a capital gains tax burden, a like-kind exchange may be a good fit for you. The qualified intermediaries at CPEC1031, LLC have over two decades of experience facilitating 1031 exchanges of all shapes and sizes. Reach out to our team to learn more about the intricacies of section 1031 and see if your property qualifies. Our offices are located in downtown Minneapolis, but we provide exchange services to taxpayers throughout the country.

  • Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.

Defer the tax. Maximize your gain.

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