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Library/๐Ÿ’ฐ Tax/State & Local Tax (SALT)
Intermediate

1031 Exchange Timeline & Compliance

Outlines the strict timing and identification rules for Like-Kind Exchanges in real estate.

Act as a Tax Consultant. Client {client_name} sold a property on {sale_date}. Outline the 1031 Exchange requirements: 1. Identification period deadline (45 days), 2. Replacement period deadline (180 days). Explain the role of the Qualified Intermediary and the 'Same Taxpayer' rule for the {replacement_property_description}.

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Details

๐Ÿ’ฐ

Category

Tax

State & Local Tax (SALT)

Tested With

โœ“ GPT-4oโœ“ Gemini 1.5 Pro

Tags

#1031 Exchange#Real Estate#Tax

Added

6m ago

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