Video: 45-day Identification Rule

For a valid Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange must adhere to the specific requirements set forth in IRC §1031, which include the 45 Identification Rule, learn more about this specific requirement in this video.