1031 exchange

[jpettigrew]

If I sell a rental property in March and then purchase a rental property in April, can I use the 1031 Exchange to defer the gain in the sale with using an inter-mediator? 

[qbteachmt]

Who took possession of the funds in the interim? From:

https://www.1031exchange.com/faq/

"IRC 1031

• Pertains to the exchange of property used in “trade or business or investment.”
• Do not report gain if property is exchanged for “like-kind” property (e.g., real estate for real estate).
• A third party intermediary is required.
• May not have actual or constructive receipt of sales proceeds from the relinquished property (all funds must be deposited with the exchange-accommodator).
• 180 days to replace the relinquished exchange property.
• 45 days to identify replacement property.
• Net equity must be reinvested in property of equal or greater value to the relinquished property."

[Just-Lisa-Now- · Accepted solution]

If you got the money from the sale (rather than have it held in an escrow account with an intermediary), its too late to do a 1031 exchange.