To properly structure a 1031 exchange transaction, the Exchanger has (45) days to identify potential replacement properties, as well as the earlier of a total of (180 days) or the date upon which the exchanger has to file its tax return for the year in which the exchange was initiated, to complete the purchase of the replacement properties.

 

The exchanger may file an extension of their federal tax return filing date in order to take advantage of the full (180) days in which to purchase their replacement property. These are calendar days, not business days, and if the final (45) or (180) day date falls on a weekend or holiday it does not rollover to the next business day. There are generally no extensions for these time deadlines, absent a federally declared disaster, or being called up to active military duty while being stationed in a combat zone.