[lendaddy]

I was told that if I sell an income property in this calender year I will only have until April 31 2007(3 months) to do a 1031 exchange. But if we close on the first of the year we get until April 31 2008 (15 months).

Now lets assume that you don't want to do a 1031 at all, does this mean you can "use" the money for 15 months before you have to send it to Hillary or do you have to make quarterly payments or some other such craziness?