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Returning Member
posted Jan 22, 2019 10:23:26 AM

Reverse 1031 over 2 tax years, multiple properties

I am in this situation:

 

1-I purchased the replacement property on Nov 2, 2018. Title is held by the 1031 intermediary. I repaired things and rented it out that same month.
 
2-I sold first relinquished property on Nov 26, 2018. The cash proceeds are held by the 1031 intermediary.
 
3-I will sell the second relinquished property on Feb 1, 2019. The cash proceeds will go to the 1031 intermediary.
 
4-At the end of February, I will receive all the proceeds, and the title for the replacement property will be transferred to my name, completing the exchange.
 
I know I need to enter the replacement property purchase for 2018, due to the repairs and rent, but not sure how or when to enter the two sales.
 
Thanks for any help.

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1 Replies
Returning Member
Jan 22, 2019 10:24:50 AM

Sorry. The 2nd property will be sold Feb 1, 2019.