Related DST offerings
One replacement option some exchangers consider is a Delaware Statutory Trust (DST): fractional ownership of institutional real estate that can qualify as like-kind replacement property in a 1031 exchange. The directory lists 179 Active DST offerings, each built from its SEC filings. Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest.
- Active 1031 DST offerings179 Active
New to DSTs? What is a DST?
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Fill In Your Dates
Milestone | Date |
|---|---|
Expected sale closing (Day 0) | _____ |
Day 45 - Identification deadline | _____ |
Day 180 - Closing deadline | _____ |
Tax return due date (for year of sale) | _____ |
Day -30 to Day -1: Pre-Sale
Day | Action | Owner | Done |
|---|---|---|---|
-30 | Begin researching qualified intermediaries | You | [ ] |
-30 | Start identifying potential replacement properties | You / Agent | [ ] |
-21 | Interview 2-3 QIs; request fee schedules and fund security information | You | [ ] |
-14 | Select and engage QI; sign exchange agreement | You / QI | [ ] |
-14 | Notify your CPA of planned exchange | You | [ ] |
-7 | Confirm QI wire instructions with title/escrow company | QI / Title | [ ] |
-7 | Ensure sale contract includes 1031 cooperation clause | Agent / Attorney | [ ] |
-7 | Pre-qualify for replacement property financing | You / Lender | [ ] |
Day 0: Sale Closes
Action | Owner | Done |
|---|---|---|
Relinquished property closes; proceeds wire to QI | Title / QI | [ ] |
Confirm QI received funds | You / QI | [ ] |
Record Day 0 date and calculate Day 45 and Day 180 | You | [ ] |
Set calendar reminders: Day 30, Day 40, Day 44, Day 45, Day 120, Day 170, Day 180 | You | [ ] |
Days 1-45: Identification Period
Day | Action | Owner | Done |
|---|---|---|---|
1-14 | Actively tour/evaluate replacement candidates | You / Agent | [ ] |
15-30 | Narrow to 3-5 serious candidates; begin due diligence | You / Agent | [ ] |
30-40 | Finalize top 3 selections; confirm closing feasibility for each | You / Agent / Lender | [ ] |
40-44 | Draft identification letter with property addresses/legal descriptions | You / QI | [ ] |
45 | SUBMIT IDENTIFICATION LETTER TO QI (before midnight) | You | [ ] |
45 | Confirm QI receipt of identification letter | You / QI | [ ] |
Days 46-180: Acquisition Period
Day | Action | Owner | Done |
|---|---|---|---|
46-60 | Complete inspections and appraisals on identified properties | You / Inspectors | [ ] |
46-60 | Finalize financing (full application, underwriting, rate lock) | You / Lender | [ ] |
60-90 | Negotiate purchase terms; execute purchase contract | You / Agent / Attorney | [ ] |
90-120 | Complete title work, survey, environmental (if applicable) | Title / You | [ ] |
120-150 | Coordinate closing date with QI, lender, title company | All parties | [ ] |
150-170 | Final walk-through; confirm all closing conditions met | You / Agent | [ ] |
170-178 | Review closing documents; confirm entity name, QI assignment | You / Attorney / QI | [ ] |
Before 180 | CLOSE ON REPLACEMENT PROPERTY | All parties | [ ] |
Day of closing | QI wires exchange funds to closing | QI / Title | [ ] |
Day of closing | Confirm QI has zero remaining balance | You / QI | [ ] |
Post-Closing
Timeframe | Action | Owner | Done |
|---|---|---|---|
Week 1 | Collect and organize all exchange documents | You | [ ] |
Week 2 | Provide complete documentation package to CPA | You | [ ] |
Week 2 | Set up depreciation schedules (carryover + excess basis) | CPA | [ ] |
Tax season | File Form 8824 with annual tax return | CPA | [ ] |
Ongoing | Store all exchange records permanently | You | [ ] |
Which return gets Form 8824: the return for the year you sold the relinquished property. That holds even when the replacement closes in the next calendar year. Form 8824 works out the gain you defer, any gain you report now, and your basis in the replacement property, so give your CPA the settlement statements from both closings.
Critical reminders:
- Day 45 and Day 180 are calendar days, not business days. Weekends and holidays count.
- The exchange period ends on the earlier of 180 days after the sale or the due date of the taxpayer's tax return (including extensions) for the year of the sale. Plan around whichever date comes first.
- These deadlines are strict. The IRS has granted limited deadline relief only in federally declared disaster areas under specific revenue procedures. Do not assume any extension is available absent formal IRS guidance.
- Deadlines are measured in calendar days per the regulations. The regulations do not provide a business-day rollover for weekends or holidays - consult your QI and tax advisor on the specific mechanics of submitting identification letters.
Frequently asked questions
Can a DST interest be one of my identified replacement properties?
Yes, if the trust is properly structured. Under Rev. Rul. 2004-86, an interest in a DST that meets the ruling's conditions can be replacement property in a 1031 exchange.
What happens if I miss the 45-day deadline?
If you have neither identified replacement property in writing nor closed on it by midnight on Day 45, the exchange fails and the sale is taxable. Relief comes only from a formal postponement, such as IRS relief after a federally declared disaster.
Does receiving boot make the whole exchange taxable?
No. You are taxed on the boot, such as cash you keep, up to the amount of your gain. The rest of the gain can still be deferred.