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Revocation of identification
Also called: revoke identification · cancel identification
A written cancellation of a prior replacement-property identification within the identification period.
What it means in practice.
IRS guidance permits an identification to be revoked in the same general manner as identification, provided the revocation occurs before the identification period ends.
Why it matters.
This can matter when deals fail or priorities change before day 45.
Additional notes.
IRS guidance permits an identification to be revoked in the same general manner as identification, provided the revocation occurs before the identification period ends.
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