I entered into a single exchange with a QI in which I sold 3 properties with the intent to buy one property. My identification period for all properties was due 45 days after the sale of the first property, which I complied with. The IRS granted relief for certain taxpayers due to hurricane IAN in which under Section 17 one could extend both the identification and purchase of replacement property until February 15, 2023, if an identified property was substantially damaged in the hurricane and the relinquished property was sold before the hurricane. Two
of my properties were sold prior to the hurricane and one after it.
One view is that this constitutes one transaction and I can have all three relinquished properties receive the
1031 deferral benefit. Another is that the third property cannot be included as it was sold after the hurricane.
Which view is correct?
