You have 45 days after closing to identify potential replacement properties and 180 days to close on the replacement. No extensions are available. You can identify up to 3 properties of any value, or more under the 200% rule. Start planning before you sell.
45-Day Rule
Must identify replacement property within 45 days of selling your property.
180-Day Rule
Must close on replacement property within 180 days of selling. No extensions.
Identification Methods
3-property rule (up to 3), 200% rule (up to 4 properties worth 200% of sale), 95% rule.
What Happens If You Miss
Pay all deferred capital gains taxes. No extension available for any reason.
Planning Ahead
Start looking for replacement properties before listing your current property for sale.