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Delayed Exchange
Delayed exchange refers to the allowable 180 calendar day period allowed by the IRS to acquire replacement property in exchange for the property you have sold. Of course, the majority of 1031 exchanges are delayed exchanges.
When completing a 1031, particularly one that is delayed for the 180-day calendar period, it is important that you adhere to the strict guidelines of the IRS. For example, taxpayers may not have actual possession or control over their 1031 exchange funds during this 180-day period.
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What is the Boot Test?