Do not include the value of property involved in a deferred exchange under IRC §1031. Line 15 — Enter an amount only if the deed or trust document states.Start your 1031 Reverse Exchange here. Please provide us with as much information as possible. There is a series of documents used in the exchange process that, if provided upfront, will help the taxpayer complete a successful exchange. Using a 1031 exchange, the value you receive from one sale can go directly into another instead of cashing out and paying the taxes before your next investment. The like kind property must be identified within 45 days of the date the deed records or possession is transferred to the buyer, whichever is earliest. To download this guide as a PDF, fill out the form on the right. Of a 1031 exchange after taking title to that property.