45-Day & 180-Day Timeline Guide

Understand the two non-negotiable deadlines that determine your exchange success.

These IRS-mandated timelines are absolute - missing either deadline disqualifies your entire exchange and triggers full tax liability. Use our calculator to get your personalized dates.

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Understanding the Timeline

1031 Exchange Timeline: 45-Day and 180-Day DeadlinesA horizontal timeline showing three key dates: Day 0 (property sale closing), Day 45 (identification deadline), and Day 180 (exchange completion deadline).Day 0Property ClosesDay 45Identify PropertiesDay 180Complete ExchangePhase 1: IdentificationPhase 2: Acquisition

The Two Critical Phases

45-Day Identification Deadline

Submit written identification of potential replacement properties to your Qualified Intermediary within 45 days of closing.

Identification Rules:

  • •3-Property Rule: Identify up to 3 properties of any value
  • •200% Rule: Identify unlimited properties if total value ≤ 200% of sale price
  • •95% Rule: Identify unlimited properties but must close on 95% of identified value

Tips for Success:

  • ✓Start your property search before closing on your property sale
  • ✓Work with a broker experienced in 1031 exchanges
  • ✓Identify 3 properties as backup options
  • ✓Submit identification by Day 40 - don't wait until Day 45
  • ✓Get written confirmation from your QI

Critical Warnings:

  • ⚠Midnight deadline - no extensions for any reason
  • ⚠Weekends/holidays do NOT extend the deadline
  • ⚠Even one day late disqualifies your entire exchange
  • ⚠Verbal identification doesn't count - must be in writing

180-Day Completion Deadline

Close on your replacement property within 180 days of closing (or tax return due date, whichever is earlier).

Tips for Success:

  • ✓Get pre-approved for financing before your identification deadline
  • ✓Start due diligence immediately after identifying properties
  • ✓Communicate your deadline to all parties (seller, lender, title company)
  • ✓Have backup properties in case first choice falls through
  • ✓Budget 30-45 days for closing - don't wait until Day 170
  • ✓File for tax extension if your return is due before Day 180

Critical Warnings:

  • ⚠Midnight deadline - no extensions for any reason
  • ⚠Tax return due date can shorten your 180 days
  • ⚠Weekends/holidays do NOT extend the deadline
  • ⚠Plan for delays in closing process
  • ⚠Missing this deadline means full tax liability

Why These Deadlines Are Non-Negotiable

The IRS is unforgiving when it comes to 1031 exchange timelines. Unlike many tax rules that have grace periods or extensions, these deadlines are absolute and have been consistently upheld by tax courts.

Both deadlines run concurrently from Day 0 (your property sale closing). The 45-day deadline falls within the larger 180-day window. This means you only have 135 days after identification (Days 46-180) to complete your exchange.

Important: If your tax return due date (including extensions) comes before Day 180, that earlier date becomes your completion deadline. Always file for an extension if your return is due before Day 180.

Common Timing Mistakes to Avoid

Waiting until Day 44 to identify

Too risky. Technical issues, QI availability, or documentation problems could cause you to miss the deadline. Always submit by Day 40.

Not accounting for weekends/holidays

If Day 45 falls on Saturday, your deadline is Saturday at midnight - NOT the following Monday. Plan accordingly.

Forgetting the tax return deadline

Your 180 days can be shortened if your tax return is due first. If you closed in November, April 15 might come before Day 180. File for an extension.

Starting property search late

Don't wait until after closing to start looking. Begin your search before Day 0 to maximize your time for finding suitable replacement properties.

What Happens If You Miss a Deadline?

Your exchange is immediately disqualified. This means:

  • Full capital gains tax liability on your property sale
  • Potential depreciation recapture taxes
  • Loss of tax deferral benefits
  • No second chances or do-overs

If you've missed a deadline, consult with a CPA or tax attorney immediately to understand your options and potential tax liability.