1031 IRS exchange extention for California, Georgia & Alabama in 2023

[Susie Wyshak]

(Oops I can't fix my typo in the subject line!) :(

Just read about an incredible extension that 1031IPX is saying the IRS is allowing in certain states this year. The example is making me drool...in a good way. I wasn't planning on selling that quickly but now it's hard to resist. Does anyone else have more info about this?

https://www.ipx1031.com/disast...

They say: "For example: Typically, if you were to close your investment property on April 1st, you would have until May 16th to identify property and September 28th to close (45 and 180 days respectively). With this recent extension however, you will now have until October 16th to both identify AND close your Replacement Property."

Here is the IRS announcement about it: https://www.irs.gov/newsroom/i...

***You have to make sure the area is designated by FEMA as a disaster area.*** https://www.fema.gov/

Please do your own due diligence as I am not an expert...just excited about the possibilities!!!