Tax-return due-date rule
Also called: earlier of rule · return due date limitation
The rule that can shorten the exchange period if the federal return due date arrives before day 180.
What it means in practice.
For a deferred exchange, the receipt deadline is generally the earlier of day 180 or the due date, including extensions, of the tax return for the year in which the relinquished property was transferred.
Why it matters.
An extension may be relevant to preserve the full exchange period in some calendar situations; confirm with the return preparer.
Additional notes.
For a deferred exchange, the receipt deadline is generally the earlier of day 180 or the due date, including extensions, of the tax return for the year in which the relinquished property was transferred.
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