IPX1031 Insight Blog

10/31 Tricks and Treats

Fourth Quarter 1031 Tip

If you are a calendar year taxpayer and you begin a 1031 Exchange during the 4th quarter of 2016, your 180 day deadline for completing the exchange will fall in 2017 — the next tax year. Timing is crucial for your tax reporting. To properly report a successful 1031 Exchange, both the property you sell and the property you buy must be reported on the SAME tax return.

Bottom line—taxpayers should not file a 2016 tax return until all purchases in the 1031 Exchange are made and the 1031 Exchange is completed. To allow for this timing, it may be necessary to file an extension on your 2016 tax return (IRS Form 4868). Contact IPX1031® for more information.

Locate a 1031 Expert In Your Area

Recent Posts

Be Prepared If Your 1031 Transaction Needs to Go in Reverse

1031 Exchange transactions continue to be on the rise. What’s also trending is the need for Reverse Exchanges. With limited available inventory and the need to secure your ideal Replacement Property, you may find yourself in a situation where a Reverse Exchange is...

1031 Exchange Trends and Info for 2024

2024 is underway! Below are key trends, issues and points regarding 1031 Exchanges and Commercial Real Estate.  1031 Exchange Trends and Market Update 2024 After a challenging 2023 year for Commercial Real Estate and 1031 Exchange transactions, what’s in store...

Pin It on Pinterest