The oil market has never been more tumultuous than over the last four months. Fears over the COVID-19 pandemic combined with a OPEC market share war left inves- tors worried that storage capacity would be exhausted in May. A huge wave of panic selling into the expiration of the May 2020 WTI contract on April 20th drive oil prices to nearly -$40 per barrel.
The IRS is giving real estate investors currently working toward 1031 exchanges a little extra time to get their deals done during the coronavirus pandemic. But there are still some fine points to figure out.