1031 Exchange Timeline Calculator

When does the 1031 exchange timeline start?

Both the 45-day and 180-day clocks start on the day your relinquished property sale closes. That closing date is Day 0, and the two periods run concurrently — the 45-day identification period ends first, and the 180-day closing period is the outer bound.

What is the 45-day rule in a 1031 exchange?

Within 45 calendar days of closing your sale, you must identify up to 3 potential replacement properties in writing to your qualified intermediary. The identification must be specific — address, legal description, or other unambiguous description. Plan as if this deadline cannot be extended for weekends, holidays, or emergencies, and confirm any exception with your CPA.

What is the 180-day rule in a 1031 exchange?

You must receive the replacement property by the earlier of two dates: the 180th calendar day after your sale closes, or the due date (including extensions) of your tax return for the year the relinquished property was sold. If you miss the earlier date the exchange fails and the gain is taxed for that year.

Are the 45 and 180 days calendar days or business days?

Calendar days. Weekends and federal holidays are counted. This page assumes a deadline that lands on a weekend or holiday does not roll to the next business day; the statute and regulation we reviewed do not say, so confirm with your qualified intermediary and CPA. This is why the arithmetic matters: 45 calendar days is roughly six and a half weeks, and it typically contains only about 31 or 32 weekdays in which to tour properties, get contracts signed, and deliver a written identification.

Can the 45-day or 180-day deadlines be extended?

Not by agreement between the parties, and this page assumes no weekend or holiday roll-forward for either deadline. The statute and regulation text we reviewed do not provide one. We did not verify whether any disaster-relief postponement applies to your situation, so ask your qualified intermediary and CPA whether one applies to you. The 180-day date can also come earlier than 180 days when your tax return is due first (see the next question).

What if my tax return is due before day 180?

Then the earlier date controls. Under IRC 1031(a)(3)(B), the exchange period ends on the earlier of 180 days or the due date, including extensions, of your return for the year of the sale. A sale that closes in late fall can hit the April return date before day 180 unless you file an extension. The calculator counts the full 180 calendar days only, so check your return due date separately and confirm with your CPA.

Does the identification have to be in writing?

Yes. Treas. Reg. 1.1031(k)-1(c)(2) requires a written, signed identification that describes the replacement property unambiguously. Your qualified intermediary will usually supply a form and tell you where to deliver it, so confirm the delivery method with them well before Day 45.

What if I sell more than one property on different dates?

Under Treas. Reg. 1.1031(k)-1(b)(2)(iii), when several relinquished properties close on different dates in one exchange, both periods run from the earliest transfer date. Do not start the clocks from your last closing.

How many replacement properties can I identify?

By default you can identify up to 3 replacement properties of any value. Under the 200% rule you can identify more than 3, as long as their combined fair market value does not exceed 200% of the value of the relinquished property. Under the 95% rule you can identify even more, provided you close on at least 95% of their combined value. Most investors use the 3-property default. Confirm your identification with your qualified intermediary before submitting it.

What happens if I miss the 45-day identification deadline?

The exchange fails. If nothing is validly identified by Day 45 there is no replacement property to acquire, the qualified intermediary returns the proceeds, and the sale is treated as a taxable event — capital gains and depreciation recapture become due for the current tax year. This is the single most common way an exchange collapses, and it is why identification work should begin before the relinquished sale closes rather than after.