1031 exchange

[simplicity]

Client sold investment property.  If he buys similar property within 45 days can he qualify for 1031

exchange

[abctax55 · Accepted solution]

"Client sold " 

Has s/he touched the cash?  Or, did s/he park it with a facilitator while looking for the replacement property?

If s/he touched (as in had access to; was deposited into her/his checking account) then NO, a §1031 exchange is off the table.

BTW, it's 45 days to identify, 180 days to actually acquire the replacement property.

[George4Tacks]

He MAY. We need much more info to say CAN. 

Here is a 1 hour free CPE course https://www.cpaacademy.org/webinars/a0D1A00000zNZF6UAO

I don't think it will give you all you need, but it might be a start.

[simplicity]

Direct answer. Thank You so much.