CPA-led 1031 exchange guide
1031 Exchange Deadline Planning Checklist
The most important exchange work starts before Day 0. This checklist organizes the pre-closing, identification, completion, and reporting steps that investors should coordinate with their Qualified Intermediary and professional advisors.
Before the relinquished-property closing
Engage the Qualified Intermediary, confirm the taxpayer and property facts with advisors, coordinate closing instructions, and begin replacement-property research. Do not wait until after sale proceeds are received.
Day 0 through Day 45
The investor generally must identify replacement property in a written, signed notice within 45 days after the relinquished property transfers. Review the identification method and delivery requirements before the deadline.
- Calendar the exact transfer date
- Set internal reminders before Day 45
- Verify descriptions of candidate properties
- Retain proof that the identification was delivered
Day 46 through Day 180
Complete diligence, financing, title, and closing work on properly identified replacement property. The completion period generally ends 180 days after the relinquished transfer or on the applicable return due date, whichever is earlier.
After the replacement closing
Retain exchange agreements, identification records, closing statements, basis records, and financing details. Give the complete package to the tax preparer for Form 8824 and any applicable state reporting.
Frequently Asked Questions
Do weekends extend the 45-day period?
The standard period uses calendar days. Ask your advisors whether specific disaster relief or another rule affects your transaction.
Do the 45-day and 180-day periods run separately?
They generally run concurrently from the relinquished-property transfer date.