1031 Exchanges
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago, 07/28/2022
1031 - options when not able to close in 180
I have a property that I sold back in February i profited $150k, I already had the replacement property under contract before selling. However this is a ranch development taking 4000 acres and converting to mini ranches. The development is running in to some delays due to permitting and requirements as well as the slow moving government getting this approved so we can actually close. The hope was for late May but it’s looking like September at the moment. My 180 day mark is beginning of august.
What options do I have, if any, to avoid this tax burden on the $150k?
Thanks for any advice!