1031 Exchange Qualification Review Prompt

Prompt

Review a proposed 1031 exchange for IRS qualification and timing.

[PASTE: Relinquished/replacement property details, exchanger details]

Steps: 1) Verify property type for like-kind qualification 2) Confirm exchanger status 3) Calculate boot calculation 4) Verify 45/180-day deadlines 5) Confirm equal-or-greater value 6) Assess QI requirement 7) Note IRS reporting requirements

Output: Qualification assessment, timeline roadmap, boot calculation, intermediary requirements.

Why it works

Precision timing/documentation ensures tax deferral success. Prevents costly mistakes.

Watch out for

Missing deadlines fails entire exchange. Engage QI early and track deadlines. Boot miscalculation triggers tax.

Used by

Finance Teams

Browse all prompts →