API wishes you a happy Thanksgiving and holiday season!

Important Information for Investors Beginning an Exchange

Do Not File Your 2019 Income Tax Return Until Your Exchange Has Been Fully Completed.From October 17 – December 31, 2019

The time frame you have to complete the acquisition of your replacement property ends at midnight on the earlier of the 180th day after the date you transferred the relinquished property OR the due date (including extensions) for your income tax return for the taxable year in which the transfer of the relinquished property occurs. (U.S. Treasury Regulations section 1.1031(k)-1(b)(2)).

This means, if the 180th day following the closing of your first relinquished property falls after the due date for your 2019 tax return (this year, for individuals, April 17, 2020 you must file an application for extension of time with the IRS to extend the due date. If you do not file for an extension, you will NOT be able to acquire any replacement property in your exchange after your tax return due date.

Remember: If your exchange is not completed by the due date of your tax return — FILE AN EXTENSION.

If you have any questions, please call your Exchange Counselor at:

National Headquarters: 800.282.1031  – OR –  Eastern Regional Office: 866.394.1031

Click here to read a Fall, 2019 interview of Javier G. Vande Steeg, Asset Preservation’s President and Co-Founder by Executive Global. Mr. Vande Steeg talks about 1031 tax deferral, wealth creation and other issues of interest to business owners and real estate investors. Executive Global offers a unique insight into the state of global business in the contemporary age, bringing together the most renowned business personalities and economists of the modern era to deliver the statistics, thorough analysis, strategy, and foresight required to make informed business decisions. Read More »

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