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20 October 2021 | 34 replies
In the Summer of 2020, I was scouring the market for anything as I was nearing the end of my "45‑Day Identification Period".
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29 January 2021 | 43 replies
A 1031x could certainly make sense, but there are some strict deadlines to close and identification periods.
8 February 2021 | 11 replies
I think everyone has a different threshold for that kind of thing.I think Dave makes some very good points. 45 day identification might seem tough, but it's actually not all that bad.
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8 February 2021 | 10 replies
Did you provide two forms of identification which are current?
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9 February 2021 | 5 replies
I’m not planning on any boot at all (beyond incidentals) but one of the two buildings I’ve got under contract turns out to have rather more significant issues than anticipated.As a result, I’m having to consider whether to proceed and deal with the unanticipated costs or back out and either identify a couple of potential replacements knowing that the identification period will close before I can fully vet them, or take the tax hit.At the moment, not a huge fan of the entire 1031 process.Thanks,Allen
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18 February 2021 | 8 replies
You can not change your mind after midnight of the 45th calendar day, and you must comply with one of the identification rules (3 property rule, 200 of fair market value rule or 95% exception).
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17 February 2021 | 3 replies
I was listening on one of the podcast episodes a while back, and I feel like I heard something about how I should only deal with licensed contractors who can supply me a tax identification form that way I can write off the work done from my taxes.
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20 February 2021 | 3 replies
I was listening on one of the podcast episodes a while back, and I feel like I heard something about how I should only deal with licensed contractors who can supply me a tax identification form that way I can write off the work done from my taxes.
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18 February 2021 | 0 replies
I am looking for advice as to how I can obtain funding for down payments on properties I wish to purchase during period prior to the closing on the sale of my rental property so as to get ahead of my 45 day identification period, after the closing, required to satisfy the condition of the 1031 exchange.
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22 February 2021 | 6 replies
Generally speaking, any type of investment property type may qualify for an exchange, except your primary residence. 3. 45-Day Identification Period - The IRS states that an exchanger has 45-days from the date they sell their property to identify potential replacement property(ies).