In general, the 45-day identification period and the 180-day exchange period for like-kind exchanges cannot be extended.
Question:
In general, the 45-day identification period and the 180-day exchange period for like-kind exchanges cannot be extended. Does this rule change if the like-kind property or the taxpayer involved in the exchange is located in a Presidentially-declared disaster area? Use the IRS's website (www.irs.gov) to find the answer. Discuss in detail.
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RevProc 200756 20072 CB 388 suggests that any number of factors could extend these time periods but ...View the full answer
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Related Book For 
South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
ISBN: 9780357109144
20th Edition
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
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