Day 40 of 45 and No Replacement Property: Three Endings
A made-up couple sold a 16-unit apartment building for $4.8 million. With the 1031 clock running out, the sample tax bill is about $1.65 million. See the three endings for the same sale, what the rules really say, and what has to be set up before closing.
In this class
- The 45-day and 180-day clocks, in plain words
- Where the sale money sits and why you cannot touch it
- Ending 1, 2 and 3: the money comes back, a rescue buy, the mix
- Why a failed exchange is not automatic installment treatment
- Fine print and what to ask before you close
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Book the free scope call. Hans looks at your sale himself and replies within 1 business day.
Education, not legal or tax advice. Hans is an Enrolled Agent (EA), admitted to practice before the Internal Revenue Service. He is not a CPA, attorney or registered investment adviser; the analysis models tax effects and does not recommend specific securities. Examples are general and hypothetical; your numbers depend on your facts. Coordinate any decision with your CPA and attorney.
Hans Goldstein is an Enrolled Agent, admitted to practice before the Internal Revenue Service. Not affiliated with or endorsed by the IRS. General education, not tax or legal advice for your situation.
Conflict of interest: Hans is also a licensed insurance producer with a separately owned insurance business. That business is not part of this engagement, and the analysis does not recommend insurance products. If you later choose an installment sale funded through an insurance company, that company pays Hans a commission through his separate insurance business.
Hans Goldstein: Tax & Exit Planning, 1401 21st St, Ste R, Sacramento, CA 95811.