Is a 1031 exchange 180 days total, or 45 plus 180?
It’s 180 days total, not 45 plus 180. Both clocks start on the same day — the day your relinquished property closes. You have 45 days from closing to identify replacement property and 180 days from that same closing to complete the purchase. The 45-day window sits inside the 180, so after you identify you have the remaining time (up to day 180) to close.
A common misconception is that the 180 days begins after the 45. It does not — the two periods run concurrently from Day 0.
One extra limit: your exchange must also finish by your tax-return due date (including extensions) for the year of the sale, if that’s earlier than day 180. A late-year sale can therefore shorten your window unless you file an extension. See the 180-day rule and visualize both clocks on the deadline calculator.
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General education — not tax or legal advice. This explains how §1031 exchanges work in general terms and uses simplified assumptions. Rules and tax rates change and your situation is specific. Talk to a qualified CPA or tax attorney before you rely on any of it. See our full terms & legal notice.