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1031 Exchanges
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Updated over 4 years ago,

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3,648
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Natalie Kolodij
Tax & Financial Services
Pro Member
  • Accountant
  • Charlotte, NC
4,385
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3,648
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1031 Exchange Deadline EXTENDED

Natalie Kolodij
Tax & Financial Services
Pro Member
  • Accountant
  • Charlotte, NC
ModeratorPosted

IRS Released Notice 2020-23 which basically extended ...everything left that was due before 7/15...to 7/15. 

Additionally, It included some wording that referenced back to an IRS rev Proc 2018-58 which was released a few years ago to handle a national disaster timelines. One of the items it addresses are "time sensitvie" exchanges including 1031 exchanges. 

So if you currently have a 1031 OR a QOZ transaction where the deadline is between 4/1/2020 and 7/15/2020

Your deadline is now 7/15/2020 

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Kolodij Tax & Consulting

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