There are two key deadlines in a §1031 exchange:

• 45 Days—You have 45 days from the closing on your relinquished property to identify a replacement property, and
• 180 Days—Youhave 180 days from the closing on your relinquished property to complete the entire exchange process (i.e., close on the replacement property) or, if earlier, until the date your tax return is due. If your tax return is due before the 180-day period is over, you can extend the exchange period by filing for an extension of your tax due date.

Note: In a reverse exchange, these time limits begin on the day after you close on your replacement property.