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Too late for 1031 exchange?
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Galaxie64
Posted 5/5/2021 18:17 (#8989029 - in reply to #8988834)
Subject: RE: Too late for 1031 exchange?


WY, OK		If you "touched" the money it is taxed. That is why the check goes to a QI at sale, most people pull out whatever they need in the short term.

I can't remember how the check or wire transfer is made out to but the money goes directly into the QI's account.

Form 8824 clearly states if a QI did NOT take the funds you skip to part 3 which will then determine your tax bill.
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