1031 Exchange Timeline Planner
5 min · Tools & Templates · Last updated
Key Takeaways
A 1031 exchange runs on two hard deadlines: Day 45 (identification) and Day 180 (closing). But the preparation starts 30+ days before the sale and the follow-up extends through tax filing. This planner maps every milestone.
Fill In Your Dates
| Milestone | Date |
|---|---|
| Expected sale closing (Day 0) | _________ |
| Day 45 - Identification deadline | _________ |
| Day 180 - Closing deadline | _________ |
| Tax return due date (for year of sale) | _________ |
Day -30 to Day -1: Pre-Sale
| Day | Action | Owner | Done |
|---|---|---|---|
| -30 | Begin researching qualified intermediaries | You | [ ] |
| -30 | Start identifying potential replacement properties | You / Agent | [ ] |
| -21 | Interview 2-3 QIs; request fee schedules and fund security information | You | [ ] |
| -14 | Select and engage QI; sign exchange agreement | You / QI | [ ] |
| -14 | Notify your CPA of planned exchange | You | [ ] |
| -7 | Confirm QI wire instructions with title/escrow company | QI / Title | [ ] |
| -7 | Ensure sale contract includes 1031 cooperation clause | Agent / Attorney | [ ] |
| -7 | Pre-qualify for replacement property financing | You / Lender | [ ] |
Day 0: Sale Closes
| Action | Owner | Done |
|---|---|---|
| Relinquished property closes; proceeds wire to QI | Title / QI | [ ] |
| Confirm QI received funds | You / QI | [ ] |
| Record Day 0 date and calculate Day 45 and Day 180 | You | [ ] |
| Set calendar reminders: Day 30, Day 40, Day 44, Day 45, Day 120, Day 170, Day 180 | You | [ ] |
Days 1-45: Identification Period
| Day | Action | Owner | Done |
|---|---|---|---|
| 1-14 | Actively tour/evaluate replacement candidates | You / Agent | [ ] |
| 15-30 | Narrow to 3-5 serious candidates; begin due diligence | You / Agent | [ ] |
| 30-40 | Finalize top 3 selections; confirm closing feasibility for each | You / Agent / Lender | [ ] |
| 40-44 | Draft identification letter with property addresses/legal descriptions | You / QI | [ ] |
| 45 | SUBMIT IDENTIFICATION LETTER TO QI (before midnight) | You | [ ] |
| 45 | Confirm QI receipt of identification letter | You / QI | [ ] |
Days 46-180: Acquisition Period
| Day | Action | Owner | Done |
|---|---|---|---|
| 46-60 | Complete inspections and appraisals on identified properties | You / Inspectors | [ ] |
| 46-60 | Finalize financing (full application, underwriting, rate lock) | You / Lender | [ ] |
| 60-90 | Negotiate purchase terms; execute purchase contract | You / Agent / Attorney | [ ] |
| 90-120 | Complete title work, survey, environmental (if applicable) | Title / You | [ ] |
| 120-150 | Coordinate closing date with QI, lender, title company | All parties | [ ] |
| 150-170 | Final walk-through; confirm all closing conditions met | You / Agent | [ ] |
| 170-178 | Review closing documents; confirm entity name, QI assignment | You / Attorney / QI | [ ] |
| Before 180 | CLOSE ON REPLACEMENT PROPERTY | All parties | [ ] |
| Day of closing | QI wires exchange funds to closing | QI / Title | [ ] |
| Day of closing | Confirm QI has zero remaining balance | You / QI | [ ] |
Post-Closing
| Timeframe | Action | Owner | Done |
|---|---|---|---|
| Week 1 | Collect and organize all exchange documents | You | [ ] |
| Week 2 | Provide complete documentation package to CPA | You | [ ] |
| Week 2 | Set up depreciation schedules (carryover + excess basis) | CPA | [ ] |
| Tax season | File Form 8824 with annual tax return | CPA | [ ] |
| Ongoing | Store all exchange records permanently | You | [ ] |
Critical reminders:
- Day 45 and Day 180 are calendar days, not business days. Weekends and holidays count.
- The exchange period ends on the earlier of 180 days after the sale or the due date of the taxpayer's tax return (including extensions) for the year of the sale. Plan around whichever date comes first.
- These deadlines are strict. The IRS has granted limited deadline relief only in federally declared disaster areas under specific revenue procedures. Do not assume any extension is available absent formal IRS guidance.
- Deadlines are measured in calendar days per the regulations. The regulations do not provide a business-day rollover for weekends or holidays - consult your QI and tax advisor on the specific mechanics of submitting identification letters.
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1031 Exchange Checklist: Every Step From Start to Close
**Pro tips:** - Share this checklist with your CPA, attorney, real estate agent, and QI at the start of the process - Calendar the Day 45 and Day 180 deadlines immediately and set multiple reminders - Identify replacement properties before selling whenever possible - Keep a DST as a backup...
45-Day Identification Worksheet
Complete one column for each potential replacement property. Evaluate more than three - you'll narrow to your final identifications.
Replacement Property Comparison Worksheet
Complete one column per property. Compare at least 3 candidates. Score each property 1-5 on qualitative factors, then tally for an overall ranking.