Compare with 1031 Exchange

	1031	453
45-day time limit	yes	no
180-day time limit	yes	no
Like-kind limit	yes	no
Must replace the relinquished asset	yes	no
Remaining cash (“boot”) taxed now	yes	no
Pressed to buy something	yes	no
Compete with others seeking replacements	yes	no
Bargaining power diminished	yes	no
Raises price for replacement asset	Yes	no
Deferral of tax on gain on sale	yes	yes
Clear title for the buyer	yes	yes
Invest proceeds how you choose	no	yes
New basis for depreciation	no	yes
Intermediary-held proceeds are secured	no	yes
Credit post-sale loss against deferred gain	no	yes
Freed from management duties, without a TIC	no	yes
Rescue a failing exchange	no	yes
Works with debt refinancing	no	yes