Barry
first thing, and let others comment....
i do not believe that the tax free treatment will be dependent on your filing timely. , but rather on the merits on how he deal was done...
you need the QI as well as the title company's report. The closing and purchase documentation and you are on your way.
second thing,
Describe the deal.... was it a straightforward 1031. Or was there a partnership division of owners
If it is not a mix and match of Properties, entities and owners, i have a template to follow which you may find helpful.
it amazes me that your client would do this without consulting you first.
let me know if you need the template
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Abby Alhante
KURCIAS & ALHANTE, CPAs LLC
Melville NY
Original Message:
Sent: 09-30-2016 11:58
From: Barry Stein
Subject: 1031 ELECTION
I am preparing a 1040 on extension till 10/15. The taxpayer informed me that he engaged in a 1031 exchange. This is new to me. Does anyone have information as to the filing requirements for the 2015 form 1040.